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Will S Korea’s bad bank stabilize property market?

Posted on 16 May 2011

South Korea’s financial watchdog said in early May that it will establish a bad bank, a special entity to purchase soured loans owed by builders and property developers.
The Project Financing Stabilization Bank (PFSB), often called bad bank, will take on as much as 1 trillion won (922 million U.S. dollars) worth of non-performing project financing loans starting June, according to the Financial Services Commission.(FSC)……………………………………….Full Article: Source

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