South Korea promotes use of SWF to acquire foreign businesses: reports

korea-won

A South Korean presidential council has called for support to use the country's sovereign wealth fund, Korea Investment Corporation (KIC), to expand Korean businesses' mergers and acquisitions of foreign companies in a bid to raise national competitiveness.

The Korea Herald, a national newspaper, on Tuesday reported Kang Man-soo, the chief of Korea's Presidential Council on National Competitiveness, as saying to South Korea's President Lee Myung-bak in a report that the council sought to "streng

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