SEOUL: South Korea yesterday sought to calm investor panic over false accounts at a top company by pumping US$1.6bil into money markets and saying it would slow a crackdown on family-run conglomerates.
Financial markets in Asia’s fourth largest economy stumbled nonetheless because investors were uneasy that malpractice could surface at other conglomerates after a US$1.2bil accounting scandal at SK Group, the country’s fourth largest chaebol.
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