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To: dougjn who wrote (6456)	12/14/1997 8:11:00 PM
From: SKIP PAUL	Read Replies (1) \| Respond to of 152472

It seems that there is a lot of conflicting information out there and no body knows the true story about who owes what to whom. following is an excerpt from an article from todays FT. "South Korea, which will hold presidential elections on Thursday, denies any danger of defaults on what it estimates as $16.3bn in short-term debt due by the month's end. It says foreign currency reserves of $10bn along with another $7.5bn expected from the IMF rescue later this month will be sufficient. But its full exposure is unclear since most of the debt is in the private sector and some of it is off-shore, which is not included in Korea's official estimate of loans due this month. Banks and companies account for 90 per cent of the nearly $110bn in short-term debt due over the next year".