South Korea's vice finance minister has urged the national pension fund to help stabilise the stock market after shares tumbled on the unprecedented impeachment of President Roh Moo-hyun, media reported on Saturday.
South Korean financial markets fell on Friday after the decision to impeach Roh for violating an election law roiled a country burdened by tensions with North Korea and struggling with economic recovery.
"To stabilise the stock market, we decided to request help from major investors, including the national pension fund," Yonhap news agency reported, quoting vice finance minister Kim Gwang-lim at a financial policy meeting.
On Friday, South Korean shares ended 2.4 percent lower at a five-week low.
Foreign investors pay close attention to the political situation on the Korean peninsula, which already faces a crisis over North Korea's nuclear ambitions.
Adding to the mix is a still-fragile recovery in Asia's fourth-largest economy and in investigation into illicit political funding by family-run chaebol conglomerates.
All Roh's powers are in limbo until the Constitutional Court rules on the vote. That process could take up to six months, during which time Prime Minister Goh Kun will run the country.
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