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To: John Hunt who wrote (15940)	6/28/1998 9:29:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 18056

S.Korea's banking industry faces shakeout biz.yahoo.com << South Korea will launch an unprecedented shakeout in its banking industry next week by ordering blue chip banks to absorb small and sickly banks. ''Four to six small non-viable banks would be merged into big blue chip banks immediately after an announcement of a banking restructuring plan next week,'' said Chung Sang-duk, chief spokesman for the Financial Supervisory Commission. But the financial watchdog said big ailing banks would be given a month of grace period as their capital increase plans were still in the pipeline. ''We are at the moment not thinking of including large banks in the list of non-viables. But a month later they will be no exception if they fail to effectively increase capital,'' Chung said. >>