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Government vows more cash to cushion Taeyoung E&C fallout

The South Korean government said Friday that it will put utmost efforts into minimizing the fallout from Taeyoung Engineering and Construction's debt-restructuring program, amid growing concerns that it could lead to liquidity constraints across the industry. “The creditors, led by the main lender, Korea Development Bank, plan to discuss ways to normalize Taeyoung E&C's business while adhering to . ....

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Exclusive-South Korea asks banks to prepare $4 billion to support credit union - sources

SEOUL: South Korea's financial services regulator has asked major commercial banks to prepare around US$4 billion in financing to support a credit cooperative hit by customer withdrawals, two banking sources familiar with the matter said on Monday (Jul 10). An official at the Financial Services Commission ....

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Exclusive: South Korea asks banks to prepare $4 billion to support credit union

South Korea's financial services regulator has asked major commercial banks to prepare around $4 billion in financing to support a credit cooperative hit by customer withdrawals, two banking sources familiar with the matter said on Monday. ....

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Exclusive-South Korea asks banks to prepare $4 billion to support credit union

South Korea's financial services regulator has asked major commercial banks to prepare around $4 billion in financing to support a credit cooperative hit by customer withdrawals, two banking sources familiar with the matter said on Monday. An official at the Financial Services Commission confirmed that banks had been asked to prepare liquidity through repurchase-agreement facilities to aid MG Community Credit Cooperatives, but did not comment on the amount. Depositors were lining up last week to withdraw funds from a branch of MG Community Credit Cooperatives after local media reported a rise in non-performing loans tied to real estate projects. ....

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South Korea asks banks to prepare $4 bln to support credit union

South Korea s financial
services regulator has asked major commercial banks to prepare
around $4 billion in financing to support a credit cooperative
hit by customer withdrawals, two banking sources. ....

Soult Ukpyolsi , South Korea , Kyonggi Do , South Korean , Ed Davies , Edmund Klamann , Kim Jin Wook , Jihoon Lee , Shinhan Bank , Financial Services Commission , Mg Community , Hana Bank , Nonghyup Bank , Woori Bank , Gangwon Jungdo Development , Kb Kookmin Bank , Mg Community Credit , Mg Community Credit Cooperatives , Interior Ministry , Seunggyu Lim , Additional Reporting ,