SEOUL, Sept 8 — South Korea will set up a surveillance unit to monitor capital flows in and out of the country by year’s end, the Korea Economic Daily reported in its early Thursday edition.

The newspaper cited an unnamed government official as saying a preparatory team had been established by the finance ministry, the Bank of Korea and regulatory agencies to form the unit.

Finance ministry officials could not immediately be reached for comment.

The new unit will take over and control the monitoring functions of financial markets and the macroeconomy from the government, the central bank and regulatory bodies, it added. — Reuters