{"id":6962,"date":"2010-12-19T03:12:14","date_gmt":"2010-12-19T03:12:14","guid":{"rendered":""},"modified":"2010-12-19T03:12:14","modified_gmt":"2010-12-19T03:12:14","slug":"SKorea-plans-levy-on-foreign-currency-bank-debt","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=6962","title":{"rendered":"SKorea plans levy on foreign currency bank debt"},"content":{"rendered":"<p><strong>South Korea plans to impose a levy on non-deposit foreign currency debt held by domestic and foreign banks in a bid to defend itself against capital surges that could threaten the country&#8217;s economy, financial authorities said Sunday.<\/p>\n<p><\/strong>The announcement comes as emerging countries try to control the movement of so-called &#8220;hot money&#8221; from abroad that they say drives up the value of their currencies and destabilizes their markets. Foreign investors have sought higher returns in fast-growing developing economies amid ultra-low interest rates and other stimulatory monetary policies in advanced countries such as the United States and Japan.<\/p>\n<p><strong>South Korea has already announced limits on investments by domestic and foreign banks in foreign exchange derivatives trading and is moving to bring back a tax on foreign investment in government bonds as ways to shield itself against potential financial instability.<\/p>\n<p><a href=\"http:\/\/www.forbes.com\/feeds\/ap\/2010\/12\/19\/business-as-skorea-bank-levy_8213519.html?boxes=marketschannelwires\" title=\"SOURCE\">SOURCE<\/a><br \/>\n<!--break--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korea plans to impose a levy on non-deposit foreign currency debt held by domestic and foreign banks in a<\/p>\n","protected":false},"author":1213,"featured_media":72448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[],"tags":[],"class_list":["post-6962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","medium_large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","1536x1536":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","2048x2048":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-highlighted-post":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-small":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x90.jpg","colormag-featured-image":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-default-news":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","colormag-featured-image-large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-block-extra-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-small-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-medium-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg"},"magazineBlocksPostAuthor":{"name":"Joshua","avatar":"https:\/\/secure.gravatar.com\/avatar\/62ee23f8f40307578d1f284ecd823d77f32da8ea35541e7dbdafeb5da1a4e877?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"South Korea plans to impose a levy on non-deposit foreign currency debt held by domestic and foreign banks in 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