South Korea‘s top financial regulator called on the country’s major banking groups to cooperate with the government’s efforts to help cut borrowing costs for vulnerable people. | Reuters
The meeting was arranged because current monetary and fiscal policy and market conditions made it difficult to develop support measures for the vulnerable without help from financial companies, Kim told reporters after the meeting.
Earlier this week, the government announced a package of measures to boost domestic consumer spending, at a time when the trade-reliant economy is sliding toward a recession amid a slump in exports. Kim also suggested the country would maintain strict restrictions on stock short-selling for some time by telling reporters that he could not say when the restrictions, which are in place to limit market volatility, would be lifted.Subscribe to our daily newsletter
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