South Korean Finance Minister Hong Nam-ki said on Saturday that nations need to be able to flexibly respond to a sudden inflow and outflow of capital.

The minister made the remarks during a meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of the Group of 20 meeting in Italy.

The remarks came ahead of the review of the IMF's institutional view on the liberalization and management of capital flows.

Minister Hong said that the planned review requires a flexible approach to allow nations to flexibly respond to a sudden inflow and outflow of capital.

Hong appears to have urged the IMF to allow nations to take various measures in response to the United States and other nations' possible moves to taper their asset purchase programs.