Government to use foreign exchange reserves to provide loans to businesses
The Korean government is planning to use some
of its foreign exchange holdings to help boost foreign investment by Korean companies.
The finance ministry said Monday… the government will use about 10 billion U.S. dollars of
the country’s foreign exchange reserves, totalling more than 3-hundred-fifty billion dollars…
to provide loans to Korean businesses willing to invest overseas.
The loans will be available at commercial banks starting next month, although lending
terms have yet to be fixed.