A family wearing face masks walk before the Han river and city skyline of Seoul on March 22, 2020. (ED JONES / AFP)

SEOUL - South Korea’s government will make an all-out effort to prevent market volatility from turning into a credit crunch as the coronavirus pandemic hammers stocks and bonds across emerging economies, its vice finance minister said on Monday.

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Kim Yong-beom also said a new task force within the finance ministry will hold a policy meeting every day to monitor markets and assess if policy actions are needed to stabilize financial markets.