ID :
23098
Tue, 10/07/2008 - 13:53
Auther :
Shortlink :
http://m.oananews.org//node/23098
The shortlink copeid
KDB seeking to raise up to $4 bln this year
SEOUL, Oct. 7 (Yonhap) -- South Korea's state-run lender Korea Development Bank (KDB) said Tuesday it is seeking to raise US$3 billion to $4 billion by the end of this year amid a deepening global credit crunch.
"We are making efforts to borrow up to $4 billion this year, including special
funding of between $1 billion and $2 billion, but compared to before (the crisis)
it is not easy to borrow overseas," KDB chairman Min Euoo-sung said during a
parliamentary audit.
South Korea's currency market suffers from a dollar shortage, with banks and
companies rushing to the safer greenback on concerns over a financial crisis
sparked by the collapse of investment bank Lehman Brothers Holdings Inc.
KDB, which the government is aiming to sell by 2012, is South Korea's largest
issuer of overseas bonds.
"We are making efforts to borrow up to $4 billion this year, including special
funding of between $1 billion and $2 billion, but compared to before (the crisis)
it is not easy to borrow overseas," KDB chairman Min Euoo-sung said during a
parliamentary audit.
South Korea's currency market suffers from a dollar shortage, with banks and
companies rushing to the safer greenback on concerns over a financial crisis
sparked by the collapse of investment bank Lehman Brothers Holdings Inc.
KDB, which the government is aiming to sell by 2012, is South Korea's largest
issuer of overseas bonds.
