중앙데일리

Gov"t Announces Supplemental Measure for F/X Liberalization

Feb 17,1999
The government intends to restrict short-term borrowing (within one-year due) for companies with more than a 200 percent debt-equity ratio.
The government will also restrict the limit that foreigners can borrow Korean money, the won, at one time to be within the current 100 million won in order to keep hedge funds from speculating in Korean currency.
These measures are to prevent expected foreign exhange speculating, as f/x trades will be basically liberalized completely beginning April 1.
The Ministry of Finance and Economy(MOFE) announced the first supplemental measures for its foreign exchange liberalization plan on February 17.
Meanwhile, MOFE will require foreigners to use only qualified banks for foreign exchange transactions so as to completely screen the inflow and outflow of foreign money.
MOFE will operate an universal electronic network connecting foreign exchange, stock and futures markets in order to prevent f/x speculations.



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