South Korea to ease some controls on foreign debt
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] South Korea plans to ease some controls on overseas borrowing by financial firms, a vice finance minister said on Friday, a step seen as part of its preparations for anticipated US interest rate hikes.
Vice Finance Minister Joo Hyung-hwan said during a meeting of senior economy and finance officials that foreign-currency debt with maturities longer than one year would now be excluded from a bank levy rule introduced in 2011.
Mr Joo also said the debt levy system would instead be expanded to include credit firms, brokerages and insurers. The system currently applies to banks.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
