S. Korea to offer US$16 bln for smooth trade financing

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SEOUL, Nov. 13 (Yonhap) -- South Korea said Thursday that it will inject an
additional US$16 billion into its financial system to help companies finance
business activities amid frozen credit conditions.

The Finance Ministry said that it will pump in dollars starting next Monday in
cooperation with the nation's central bank. The move aims to help ease a dollar
shortage confronting local companies in importing raw materials and exporting
goods.
This will bring the total amount of dollars that the government and the central
bank have supplied to the financial system to $55 billion, according to the
ministry.
kokobj@yna.co.kr
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