korean-bank-package-raises-expectations

Korean bank package raises expectations

Markets react cautiously to Korea's financial support measures, while waiting for a regional initiative.
South Korea's currency and stockmarket rose following the governmentÆs weekend announcement of the regionÆs biggest financial support package. And while the government has promised further autonomous measures should conditions worsen, there is still no sign û despite expectations among some investors û that Asian central banks are about to announce a protective regional currency swap arrangement.

Korea has been touted as a possible mediator between China and Japan, which are believed to be competing for the leading role in any regional cooperative movement.

Minister of strategy and finance Kang Man-soo, financial services commission chairman Jun Kwang-woo and Bank of Korea governor Lee Seong-tae announced KoreaÆs individual support package at a joint news conference on Sunday....
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