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.
South Korea’s top financial regulator will cut reserve requirements by half for insurance firms’ cross-border infrastructure assets from as early as June, paving the way for domestic insurers to boost overseas alternative investments. The Financial Supervisory Service (FSS) is working&hellip
The Government Employees Pension Service (GEPS) has awarded overseas private debt fund mandates for opportunistic strategies to Apollo Global Management and Cerberus Capital Management to invest up to $160 million, according to the South Korean pension fund on March 24.&hellip
HI Investment & Securities Co. Ltd., an affiliate of South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has established an offshore aircraft leasing company to buy two used Boeing 777-300ER aircraft from a Chinese leasing firm for $209 million, jointly&hellip