ID :
25176
Sat, 10/18/2008 - 09:21
Auther :
Shortlink :
https://www.oananews.org//node/25176
The shortlink copeid
Gov't eyes injecting 1 tln won into lender for small biz
SEOUL, Oct. 17 (Yonhap) -- The government is mulling over providing 1 trillion won (US$763.4 million) to the Industrial Bank of Korea (IBK), a state-owned lender, to resuscitate loans for small businesses amid a liquidity crunch, informed sources said Friday.
The Ministry of Finance and Planning and IBK are negotiating the provision, which
will likely be conducted through transferring state-owned stocks in public firms
to the lender, according to industry and government officials familiar on the
matter. Further details weren't disclosed.
IBK, in which the government has a 51 percent share, specializes in lending to
the country's smaller companies.
Amid heightened concern over financial and economic conditions, Finance Minister
Kang Man-soo said that the government will Sunday announce sweeping measures
aimed at stabilizing financial markets.
(END)
The Ministry of Finance and Planning and IBK are negotiating the provision, which
will likely be conducted through transferring state-owned stocks in public firms
to the lender, according to industry and government officials familiar on the
matter. Further details weren't disclosed.
IBK, in which the government has a 51 percent share, specializes in lending to
the country's smaller companies.
Amid heightened concern over financial and economic conditions, Finance Minister
Kang Man-soo said that the government will Sunday announce sweeping measures
aimed at stabilizing financial markets.
(END)
