S Korea's Finance Minister Kang Man-soo said on Wednesday that the government will make continuous efforts to boost the real part of the local economy struck by the ongoing global financial turmoil.

"The fallout from the unprecedented financial crisis is now spilling over to the real economy. To stem the transition, we need to make substantial efforts," Kang said.

Kang said his ministry will cooperate with the central bank and Financial Services Commission to stabilize financial markets.

Kang added that the current turbulence could last longer than expected and the extent of its impact on the real economy remains uncertain.

(Xinhua News Agency November 12, 2008)