South Korea creates fund to bail out shipping

A new fund with USD 9.5 billion will serve as a buffer for national banks and help them restructure the debt at the country's suffering carriers and yards. The fund will become operational in July and expire at the end of 2017.

BY NIKLAS KRIGSLUND

South Korea has established a fund which will bolster the state-owned banks and help them restore the country's struggling yards and carriers.

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