South Korea Unveils Levy on Banks’ Foreign-Currency Debt
December 19, 2010 at 14:13 PM EST
South Korea unveiled its plan for a levy on banks’ foreign-currency debt, joining its Asian neighbors in trying to stem speculative foreign capital inflow. Seoul will impose a levy on the balance of foreign-currency-denominated debt, excluding foreign-currency deposits, of Korean banks and local branches of foreign banks, possibly from the second half of next year, [...]