Banks Put Bailout Cash Straight Back into BOK Korean Banks Recovering Pre-Crisis Financial Soundness Experts Predict Tense Christmas for the Economy Top Firms' Cash Assets, Short-Term Debt Soar BOK to Supply Up to W5 Trillion for Bond Fund Gov't in Fresh Bid to Make Banks Lend More Gov't Gets Tough on Banks W20 Trillion Promised to Bolster Banks Developed Status 'Could Hurt Korean Bourse'

The banks are Citibank Korea at A2, Export-Import Bank of Korea (Aa3), Hana Bank (A1), Industrial Bank of Korea (Aa3), Kookmin Bank (Aa3), Korea Development Bank (Aa3), National Agricultural Cooperative Federation (A1), Shinhan Bank (A1), Woori Bank (A1), and Woori Finance Holdings (A2).

In a press release issued, Moody's said, "The review will consider the appropriateness of the banks' foreign currency debt ratings vis-a-vis the Korean government's, given the banks' heavy dependence on government support to secure external funding during this crisis."

At present, the foreign currency debt rating (Aa3) of Kookmin, KDB, IBK and Ex-Im Bank is two notches above the country's sovereign rating, while those of the other banks are either the same or one notch higher (A1).

Moody's has given higher ratings to Korean banks than the country's as a whole in view of their overseas currency funding capacity, crisis management ability, and soundness. But it said over the past months Korean banks have had trouble with overseas currency flow, and their continuing dollar shortage and investor wariness pose a challenge to the Korean financial system.

(englishnews@chosun.com )