The South Korean government is stepping up crisis management efforts to better cope with the impact of the impeachment of President Park Geun-hye and the possible hike in the U.S. interest rate.
As part of these efforts, the government decided to extend a policy loan of 200 billion won to the nation's small- and medium-sized travel agencies which are having difficulties due to China's travel restrictions.
After holding a financial market monitoring meeting on March 12, Yim Jong-yong, head of the Financial Services Commission, said, "A variety of internal and external risk factors are emerging, including the political uncertainty ahead of the presidential election, the Korea-China conflict and the possible increase in U.S. interest rates."
He added, "To stabilize the domestic economy, we will extend the government's financial support up to the highest possible level." The government decided to extend preferential loans and guarantees of up to 200 billion won for the nation's small- and medium-sized travel agencies and other related companies starting from this week.
The Public Officials Benefit Association (POBA) will select two global private credit managers to invest around $200 million in mezzanine debt via separately managed accounts (SMAs). POBA will allocate $100 million to each of two SMAs through two domestic investment&hellip
The Government Employees Pension Service (GEPS) will allocate $20 million to US dollar-denominated structured notes based on South Korean credit default swaps (CDS) and three-month US dollar LIBOR. It received proposals for the investment mandate by the afternoon of June 26.&hellip
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip