S. Korea Imposes Levy on Financial Firms over Foreign Borrowing

SEOUL, May 12 (Korea Bizwire) — South Korea has imposed a levy on financial firms’ non-deposit foreign borrowing to ease volatility in capital flows, the central banks said Thursday. The Bank of Korea said 66 financial companies, including 17 local banks and 34 branches of foreign lenders, are required to pay 0.1 percent of their [...]