South Korea won firm after Fed rate hike, will act if needed

SEOUL: The South Korean won has firmed in addition to other key currencies after the Federal Reserve decided to raise US interest rates, the country's vice finance minister said on Thursday, adding Seoul will act to stabilise markets if necessary.

Vice Finance Minister Choi Sang-mok also said the government will prepare measures to aid in preventing household-debt related troubles by the end of June, at a meeting with other government, financial authorities to assess the impact of the Fed's decision.

Earlier in the day, the Fed decided to raise US interest rates for the second time in three months as it perceives the economy has improved there.