Korea to create $7b restructuring fund
South Korea has announced plans for a KRW8 trillion ($7 billion) fund – of which half will come from private sector feeder vehicles – as part of government efforts to initiate a more market-based approach to corporate restructuring.
United Asset Management Company (UAMCO) – the agency responsible for managing non-performing loans – government-owned banks and commercial banks, and pension funds will make commitments to the KRW4...
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