January 20, 2000 
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| January 20, 2000 | atimes.com | |
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| The Koreas $31bn on hand for potential bond crisis SEOUL - The government will ready 35 trillion won ($31 billion) by the end of the month to ward off potential liquidity problems that could arise when investors are allowed to redeem 95 percent of their deposits in Daewoo company bonds. Financial Supervisory Commission Chairman Lee Yong-keun said on Wednesday that some 23 trillion won of 35 trillion won in funds invested in Daewoo bonds mature on February 8. Up to 19 trillion won worth of funds invested in non-Daewoo bonds also mature by early next month. Withdrawals in fund investment may thus reach 15 trillion to 30 trillion won. The 35 trillion won in standby funds will come from bond purchases by the Korea Asset Management Corp, the bond market stabilization fund and liquidity reserves in brokerage houses and investment trust companies. ''We will pass February 8 without any confusion as we did in November, when withdrawals in Daewoo company bonds were first allowed,'' Lee said. (Asia Pulse/Yonhap) | |||||||||
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