Gov't to invest 800 bln won in five state-run financial institutions

SEOUL, Jan. 28 (Yonhap) -- The government said Wednesday that it will invest a combined 800 billion won (US$581.4 million) in the nation's five state-run financial institutions in a bid to help them provide loans to cash-strapped companies.

Of the total, 260 billion won will be invested in the Export-Import Bank of
Korea, with 250 billion won and 140 billion won to be injected into the Korea
Development Bank and the Industrial Bank of Korea, respectively, according to the
finance ministry.
The ministry added that it will invest 100 billion won in the Korea Asset
Management Corp., while providing 50 billion won to the Korea Housing Finance
Corp.
The move, to be finalized by Friday, comes after the ministry provided 1.5
trillion won to the five financial companies earlier this month. The ministry
expects that the additional injection will help them secure around 10 trillion
won more for loans to cash-strapped companies.
kokobj@yna.co.kr
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