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Sharpest drop ever for Korea stock market in crisis
South Korea faced its steepest one day decline as the Kospi fell 7.5 percent to 366.36 amid credit concerns and a rush to secure IMF and World Bank aid. President-elect Kim Dae-jung warned of possible default while loans from World Bank and Asian Development Bank were approved to ease the crisis.
MENTIONED IN THIS ARTICLE
South Korea
Seoul
World Bank
Korea
International Monetary Fund
Kim Dae-jung
U.S
Japan