South Korea to ease FX regulations to improve liquidity conditions

Finance ministry / Bank of Korea joint statement:

• South
  Korea
  to ease FX
  regulations to improve liquidity conditions

No further details as yet.

Here we go, more, via Reuters:

• “Strict regulations restrain the efficiency of foreign
  exchange management, and there is a need to take into account
  worsened foreign exchange liquidity conditions after recent
  events,”
• ceiling of foreign exchange
  futures contracts will be raised to 75% of capital holdings for
  local banks and 375% for Seoul branches of foreign banks, from
  the current 50% and 250%, respectively.
• measures also include allowing companies to take out loans
  in foreign currencies and exchange the funds for the won, if
  they are used for investing in facilities such as equipment,
  property and land purchases.
• ministry said it would implement the measures in a swift
  manner and consider expanding them after reviewing the effects.

This article was written by Eamonn Sheridan at www.forexlive.com.