March 27, 2020 / 6:31 AM / 2 days ago

S.Korea to kick start corporate bond buying programme on April 2

SEOUL, March 27 (Reuters) - S.Korea’s financial regulator on Friday said it will commence the planned bond buying facility on April 2 by purchasing corporate paper to stabilize the local market grappling with the coronavirus pandemic.

The Financial Services Commission said it plans to set up a separate facility to buy commercial paper.

South Korea on Tuesday doubled a planned economic rescue package to 100 trillion won ($80 billion) to rescue companies hit by the coronavirus and put a floor under crashing stocks and bond markets.

Reporting by Cynthia Kim Editing by Shri Navaratnam

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