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Korea Must Repay $ 20 Billion By Year End

Sept 08,1998
It is estimated that Korea will have to reimburse 20 billion dollars in additional foreign debts by the end of 1998.
These figures were obtained from a report released by Morgan Stanley on September 6. The company expected that Korean company's foreign debts would generally come due in the latter half of this year.
The company analyzed that due to the reimbursement, the value of the won will be under pressure to depreciate and the exchange rate of the won might reach 1,350 won against the US dollar in September, 1,400 won in November, 1,450 won in February 1999 and 1,500 won in August 1999.