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KOREAN PARTIES OK ROLLOVER BILL TO HELP STABILIZE FINANCIAL MKT.
SEOUL, April 1 Asia Pulse - The ruling and opposition parties have agreed to pass a bill in early April to allow the rollover of 4.5 trillion won (US$3.4 billion) of Korea Deposit Insurance Corp. (KDIC) bonds maturing by the end of the year, a Ministry of Finance and Economy official said Friday.
Representatives of the ruling Millennium Democratic Party and major opposition Grand National Party recently agreed to put priority on passage of the rollover bill during an extraordinary parliamentary session to be convened in early April, the official said.
The agreement is aimed at preventing a negative impact on the operations of the state-run KDIC, the government's restructuring arm that injects public funds into ailing firms and financial institutions, he said.
"The two parties shared the view that any further delay in the passage of the rollover ...
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...on the use of public funds before allowing...predict that the rollover bill could pass the...that injects public funds into ailing firms...passage of the rollover bill would not only...provision of public funds for financial...
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