South Korea's central bank will not intervene any further in foreign exchange markets, the governor of the Bank of Korea said on Wednesday in comments likely to unsettle financial markets. "I believe that we now have sufficient reserves to secure our sovereign credibility, so I do not anticipate increasing the amount of foreign reserves further," Park Seung told the Financial Times. South Korea's foreign currency reserves stand at $206bn the fourth largest in the world. Mr Park said: "We now need to take more consideration of profitability, and I think we're at a stage where we need to manage our reserves in a more useful way." Although he made no explicit comment on the won, Mr Park's remarks imply that South Korea is now unwilling to undertake the intervention required to stem its currency's rise. The central bank has spent billions of dollars in the foreign exchange markets to contain the won.