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Technology Stocks : Micron Only Forum

MU 241.08

-6.7%

Dec 12 3:59 PM EST

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To: Skeeter Bug who wrote (31269)	3/25/1998 10:52:00 PM
From: DJBEINO	of 53903

SKorea reportedly tells banks to cut credit to sluggish chaebols SEOUL (AFX-ASIA) - The Financial Supervisory Board has ordered commercial banks to reduce the level of credit extended to congolmerates which are sluggish in carrying out restructuring exercises, the Korea Economic Daily reported. In a corporate reform proposal delivered to banks, the board said it will prohibit chaebol-affiliated companies from exchanging their convertible bonds. This is in line with a requirement that corporate debt be reduced to 200 pct of a company's equity by end-1999, the report said. The board has also told banks to monitor the performance of senior corporate officials in a move to assess their ability to undertake

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