epa05021428 Bank of Korea (BOK) Governor Lee Ju-yeol holds a press conference in Seoul, South Korea, 12 November 2015, after the central bank froze the key rate at 1.5 percent for the fifth month in November. Lee insinuated a possible rate cut in the near future but was still negative about a zero-rate policy. EPA/YONHAP SOUTH KOREA OUT
SEOUL: The Bank of Korea’s (BoK) chief indicated that the central bank will help the government revamp ailing shipbuilders and other companies, adding that the form of help would need to be discussed with relevant ministries.
Corporate restructuring is an important task for South Korea’s economy, and the central bank will perform a necessary role during the process, BoK governor Lee Ju Yeol (pic) said in a meeting yesterday. His deputy, Yoon Myun Shik, told reporters last week that raising capital for state-run lenders is basically the role of the government and a consensus is needed for the BoK to use its powers to aid restructuring.
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