Bank of Korea siphons $3 billion into SWF: reports

Bank of Korea, Seoul

The Bank of Korea on Tuesday reportedly said it would place $3 billion from its foreign exchange reserves in the management of Korea Investment Corporation (KIC), the country's sovereign wealth fund.

News outlets including the Wall Street Journal, a business newspaper, and Reuters, a newswire, reported that the central bank said it would sign an agreement with KIC to enact the move "as soon as possible." Officials at the central bank's representative offices in London and New York were unable to

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