Korea??s central bank said yesterday it will allow a one-year rollover of foreign currency loans used as working funds to help ease borrowers?? financial burdens from the weakening of the local currency. Foreign currency loans were permitted only for capital investment by manufacturing companies or payments which should be done in foreign currencies. But the central bank said it will extend the repayment deadline for foreign currency loans, which were borrowed for conversion into the won before last year??s restriction, by one year starting tomorrow, but noted that the move is a one-time measure. As of the end of February, foreign currency loans extended by banks stood at an outstanding $47 billion, up $1. Terms of Use | Copyright Policy | Privacy Policy | E-mail address privacy All materials contained on this site are protected by Korean copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior consent of Joins. read more
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