Government to push for Corporate Restructuring Effort

The government has decided to recapitalize Korea Development Bank and Korea EximBank in order to fund the upcoming corporate restructuring efforts. To this end, it will review an idea of investing 1 trillion won each in the two state-run banks through the Bank of Korea. The government held an interministerial meeting on April 26 and said afterward that it would soon announce the details of the corporate restructuring program, how to fund the state-run banks, and ways to address the ensuing unemployment problems.

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