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S. Korea braces for possible Japanese capital flight

The financial authorities are formulating a contingency plan for any sudden flight of Japanese capital, a preliminary move against the possibility of Japan extending its export restriction measures to the financial sector. A team of officials from the Financial Services Commission (FSC) and Financial Supervisory Service (FSS) are currently checking the maturity of loans extended to Korean companies by Japanese firms. They are seeking to set up a plan to deal with refusals to roll over maturing debt or extend new loans.

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