The US and South Korea agreed on October 1 to implement liquidity facilities to quell financial instability if needed, South Korea’s finance ministry said after a teleconference between the finance chiefs of the two countries.

“The two countries are ready to work closely together to implement liquidity facilities when necessary, such as when financial instability is aggravated by the spread of liquidity crunch in major economies, including Korea,” the ministry said in a statement. The call was