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Two officials from a Korean defence company confirmed the syndicated loan plan. Two officials at South Korean banks said there would be loans, but did not specify the type. That deal was worth $13.7 billion, South Korea's largest to date. The South Korean government didn't immediately provide a comment when asked for one. The South Korean government official did not elaborate on the size of the potential syndicated loan.

Persons: Kacper, didn't, 1,320.4500, Cynthia Kim, Seunggyu Lim, Jihoon Lee, Josh Smith, Gerry Doyle Organizations: REUTERS, Rights, Reuters, South Korean, South, Korea's, Hyundai Rotem Co, Hanwha Aerospace, Hyundai Rotem, U.S, Thomson Locations: South Korea, Wierzbiny, Orzysz, Poland, Rights SEOUL, South Korean, South, Seoul, Ukraine, Russia, Europe

REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsSEOUL, Sept 15 (Reuters) - South Korea is reviewing measures to limit currency and swap traders' tenure in local dealing rooms to three to five years, starting as early as next year, two sources with direct knowledge of the matter told Reuters on Friday. "The FSS is in the process of finalizing the measures by collecting views from the bankers' federation." Money managers at local banks are fiercely opposing the move, as fraud checks are already rigorously done in their daily operations through middle- and back offices. Foreign banks with local branches will not be subject to enforcement on staffer rotations. The move could be in effect around the time the country's onshore currency market will be extended to 2 a.m. local time, or the end of London business day.

Persons: Thomas White, we're, Cynthia Kim, Kim Coghill Organizations: South, REUTERS, Rights, Reuters, Woori Bank, Financial Supervisory Service, Korean, Thomson Locations: South Korea, Rights SEOUL, London

☆ Exclusive: South Korea asks banks to prepare $4 bln to support credit union - sources
▼ + stars: | 2023-07-10 | by ( Seunggyu Lim | ) www.reuters.com time to read: +3 min

An official at the Financial Services Commission confirmed that banks had been asked to prepare liquidity through repurchase-agreement facilities to aid MG Community Credit Cooperatives, but did not comment on the amount. Depositors were lining up last week to withdraw funds from a branch of MG Community Credit Cooperatives after local media reported a rise in non-performing loans tied to real estate projects. Woori Bank, Hana Bank, Shinhan Bank, KB Kookmin Bank and NongHyup Bank had been asked to make financing available to MG Community Credit, although the actual amount extended to the credit union would depend on deposit withdrawals, the sources said. The sources added that each of the banks was asked to prepare 1 trillion won of financing, or 5 trillion won in total ($3.84 billion), as potential support. MG Community and the five banks did not immediately respond to requests for comment.

Persons: Kim Jin, 1,302.7800, Seunggyu Lim, Jihoon Lee, Ed Davies, Edmund Klamann Organizations: Financial Services Commission, Community Credit Cooperatives, MG Community Credit Cooperatives, Woori Bank, Hana Bank, Shinhan Bank, KB Kookmin Bank, NongHyup Bank, MG Community Credit, MG Community, Community, Interior Ministry, Bank of, Ministry of Finance, Citi, Jungdo, Thomson Locations: SEOUL, Namyangju, Seoul, Bank of Korea, Gangwon

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