Finance Minister Koo Yun-cheol speaks during a meeting to address rising financial market volatility with other top financial authorities, Seoul, Thursday. Yonhap

Top Korean financial authorities said Friday that recent cryptocurrency volatility is unlikely to spill over into broader financial markets, pledging to strengthen oversight to prevent market anxiety.

The remarks came after an internal transfer error last week at Bithumb, one of the country’s largest crypto exchanges, which triggered a brief but sharp drop in digital asset prices.

“The recent increased volatility in cryptocurrency prices is unlikely to be directly transmitted to financial markets,” the finance ministry said, citing assessments made during a meeting chaired by…