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.
A group of South Korean insurers will invest 69 billion won ($60 million) in 29-year senior debt secured on Australia’s National Archives Preservation Facility in Canberra, attracted to its long maturity, as they are keen to extend asset durations ahead&hellip
The Construction Workers Mutual Aid Association (CWMAA) will acquire a language center building of the University of New South Wales (UNSW) in Sydney for A$71 million ($56 million), jointly with a South Korean insurance company. CWMAA, with $2.8 billion in&hellip
South Korean banks and institutional investors will provide $140 million in syndicated loans to a US gas-fired plant project in Pennsylvania, part of $460 million loans originated by BNP Paribas to build the power plant. Of the $140 million loans,&hellip