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Gov"t to Maintain Low Interest Rates to Bolster Stock Market

Mar 11,1999
The government intends to continue lowering the level of interest rates in order to drive up the stock market and induce the depreciation of the won's value.
Policymakers, especially, feel that a bullish stock market is one necessary condition for businesses and financial companies to strengthen their financial state through the additional issuance of shares.
Meanwhile, the government will conclude the restructuring of non-banking finance companies within the first half of this year, and, if necessary, it will use public money to support viable firms that require capital injections.
The Ministry of Finance and Economy(MOFE) held a meeting for finance industry development on March 11 and announced its 'directions of financial policies for 1999'.
MOFE said that it set a target for the conclusion of finance industry restructuring. MOFE intends to revitalize the capital market and overall economic stimulus through cyclical adjustments of interest rates, stock prices, and the value of won.


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