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PACIFIC WATCH

South Korea

October 10, 1994|From Times Staff and Wire Reports

Foreign Stock Ownership to Be Raised to 12%: The South Korean government said it will expand to 12% on Dec. 1 its current 10% ceiling on foreign stock investment in a single Korean company. The limit will be increased to 15% some time next year, the Ministry of Finance said. At the end of August, foreign investors owned an average 8.6% of total outstanding shares in each Korean company. Officials said the ceiling increase is expected to attract about $1 billion in foreign funds during December. They added that an additional $2.5 billion to $3 billion in foreign funds will be injected into the stock market after the limit rises to 15%.

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