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S KOREAN GOVT PLANS TO MAKE KIC'S ASSETS HIGHLY LIQUID.
SEOUL, Feb 2 Asia Pulse - The South Korean government will make the assets of an envisioned state investment agency readily convertible into cash to ensure a cushion against crisis, government officials said today.
In an effort to turn the country into a regional financial hub, South Korea plans to launch the investment agency next year to put the country's huge foreign reserves into more effective use.
The agency, tentatively named Korea Investment Corp. (KIC), will have an initial capital of US$20 billion to be taken from Korea's foreign reserves, which stood at US$156.73 billion as of Jan 15, the fourth highest in the world.
An official at the Ministry of Finance and Economy said the government would sign a "cashing contract" with the manager of the investment agency.
...- Gov't to Use US$20 Bln of Foreign Reserves for Overseas Investment.
- News wire article from: YON - Yonhap News Agency of Korea March 19, 2004 700+ words
...from its massive foreign reserves for overseas investment...envisioned state investment agency. In an effort to...plans to launch the investment agency next year to put the country's huge foreign reserves into more effective...
- S KOREAN GOVT TO USE US$20 BLN OF FOREIGN RESERVES FOR OVERSEAS INVESTMENT.
- News wire article from: Asia Africa Intelligence Wire March 19, 2004 700+ words
...from its massive foreign reserves for overseas investment...envisioned state investment agency. In an effort to...plans to launch the investment agency next year to put the country's huge foreign reserves into more effective...
- KOREA'S CENTRAL BANK OPPOSES PROPOSED INVESTMENT AGENCY.
- News wire article from: Asia Africa Intelligence Wire December 4, 2003 700+ words
...establish a state investment agency which would use part of the country's foreign reserves. In an attempt...put the nation's foreign reserves to more effective...a portion of the foreign reserves from BOK's hands...
- KOREAN GOVT MULLS EARLY ESTABLISHMENT OF STATE INVESTMENT AGENCY.
- News wire article from: Asia Africa Intelligence Wire December 18, 2003 700+ words
...launch of the investment agency, tentatively...s huge foreign reserves into more...Korea's foreign reserves amounted...country's foreign reserves more profitably...Only an investment agency directly...
- Despite hoopla, treat China's foreign reserves with great reservation.
- Newspaper article from: South China Morning Post January 17, 2006 700+ words
...have the world's biggest foreign reserves. Just think of it, national...chart shows, China's foreign reserves are indeed still rocketing...if you treat China's foreign reserves as national savings and...Singapore and set up a national investment agency to put the money ...
- Seoul launches independent agency to manage foreign reserves.
- News wire article from: Asia Africa Intelligence Wire July 1, 2005 700+ words
...crisis. The country's foreign reserves stood at $204.8 billion...from a depletion of its foreign reserves. However, the increase in foreign reserves drew calls to manage...17 billion to the investment agency for management, and...
- (LEAD) Seoul launches independent agency to manage foreign reserves.
- News wire article from: Asia Africa Intelligence Wire July 1, 2005 700+ words
...crisis. The country's foreign reserves stood at $204.8 billion...from a depletion of its foreign reserves. However, the increase in foreign reserves drew calls to manage...17 billion to the investment agency for management, and...
- S.KOREA LAUNCHES INDEPENDENT AGENCY TO MANAGE FOREIGN RESERVES.
- News wire article from: Asia Africa Intelligence Wire July 1, 2005 700+ words
...crisis. The country's foreign reserves stood at $204.8 billion...from a depletion of its foreign reserves. However, the increase in foreign reserves drew calls to manage...17 billion to the investment agency for management, and...
- SEOUL LAUNCHES INDEPENDENT AGENCY TO MANAGE FOREIGN RESERVES.
- News wire article from: Asia Africa Intelligence Wire July 1, 2005 700+ words
...crisis. The country's foreign reserves stood at $204.8 billion...from a depletion of its foreign reserves. However, the increase in foreign reserves drew calls to manage...17 billion to the investment agency for management, and...
- BOK YIELDS TO KOREAN GOVT PLAN TO USE FOREIGN RESERVES FOR NEW AGENCY.
- News wire article from: Asia Africa Intelligence Wire December 11, 2003 700+ words
...set up a state investment agency and allow it to...use of abundant foreign reserves. As of the end...the nation's foreign reserves were $150.3...idea of assigning foreign reserves to the KIC and...
Source: HighBeam Research, S KOREAN GOVT PLANS TO MAKE KIC'S ASSETS HIGHLY LIQUID.