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 National Pension Service (NPS), Public Officials Benefit Association (POBA) and Hyundai Marine & Fire Insurance Co. Ltd. are likely to commit $380 million to a blind-pool real estate fund which private equity firm Rockpoint Group is launching to&hellip
(Corrected: New overseas alternative head Young-shin Chung was not promoted from the position of domestic alternative investment head, but moved to the new position. First paragraph was corrected in that regard.) The Korea Teachers’ Pension on April 24 named its domestic&hellip
Four South Korean institutional investors will acquire 100 billion won ($88 million) worth of senior debts secured on two US gas-fired power plants from CIT Bank, in a rare secondary debt investment for domestic investors. The unidentified Korean institutions, including insurance&hellip