The government has decided to expand state-run banks’ capital to raise funds necessary for corporate restructuring.
 
Financial Services Commission(FSC) Chairman Yim Jong-yong told reporters on Tuesday that the commission requested the Finance Ministry and the Bank of Korea(BOK) to make efforts for the capital expansion of government-run banks. He made the remarks after attending a meeting on restructuring and boosting industrial competitiveness.
 
In a bid to estimate the exact amount of funds needed for restructuring, the Finance Ministry, FSC, BOK, the Korea Development Bank and the Export-Import Bank of Korea will form a task force and launch discussions.
 
The government is mulling various steps, including in-kind contributions, and is not ruling out the possibility of seeking a supplementary budget.