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Sovereign Wealth Funds Briefing - Categorized | Market, Reserve Currencies

S.Korea govt faces more pressure to push bank mergers

Posted on 03 December 2008

From Reuters: Deteriorating financial markets, looming corporate failures and a falling capital base could trigger the first major shake-up of South Korea’s banking industry since the Asian financial crisis a decade ago.

The government is publicly baulking at using taxpayers’ money to protect the industry from the global financial crisis and wants banks to work on ways to rescue themselves, saying it is ready to act as a catalyst for possible banking mergers in the world’s 13th-largest economy….. Full Article: Source


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