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Finance Minister Kang Man-soo held an emergency meeting with the top executives of local banks today amid mounting concerns over a shortage of U.S. dollars and a worsening economic situation.
The nation's top economic policymaker pressed local lenders to sell off foreign assets and stockholdings to help bring dollars into Korea.
Kang advised them to transfer foreign currency deposits in overseas banks back into the country.
The minister added the government will continue to provide foreign exchange liquidity by using the country's foreign reserves.
Arirang News
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