South Korea's Financial Supervisory Service(FSS) says the political turmoil in Hong Kong will have a limited impact on the local financial market. 

The financial watchdog assessed on Friday that South Korean financial firms’ exposure to Hong Kong's financial market stood at six-point-11 billion U.S. dollars as of late March, accounting for just two-point-two percent of their overall foreign exposure. 

It also said stock indices in Hong Kong have only suffered a minor setback, losing less than three percent since the turn of the year. 

The FSS also cited South Korea's strong economic fundamentals, which it views as capable of enduring various global economic risks. However, if such factors come together to drag sharply on the local financial market, the watchdog said it will engage its crisis response system.