Kim Woo Jung Asks For Hedge Fund Regulations
Kim Woo Jung, chairman of the Federation of Korean Industries (FKI) and Daewoo group, insisted on October 28, 'The government will have to regulate the activities of hedge funds so as to defend in advance a possible second round of foreign exchange crisis.'He said, in an economic seminar organized by an FKI organization, ' Government will have to prevent a potential foreign exchange crisis from reappearing by trying to make financial reforms and regulations for hedge funds and securing foreign reserves by as much 100 billion dollars.'
Meanwhile, he commented, ' The business sector will try to set up a leading bank in which 50 to 100 companies and foreign capital take part continuously.'
with the Korea JoongAng Daily
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