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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

S.Korea to create $15 bln fund to bolster banks

Posted on 19 December 2008

From AFP: South Korea plans to set up a 20 trillion won (15.4 billion dollar) fund to help banks raise their capital base and access cash during the credit crisis, the financial watchdog said Thursday.

The move will ensure banks “will be prepared for possible losses that they could incur from a prolonged economic slowdown and restructuring (of businesses),” the Financial Services Commission (FSC) said….. Full Article: Source


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