Bank Run: South Korea Suspends Four Savings Banks For Six Months From Today Due To A Liquidity Crunch

Feb. 19 (Bloomberg) — South Korea’s Financial Services Commission suspended the business of four local savings banks for six months from today due to a liquidity crunch. The four banks are Bohae Mutual Savings & Finance Co. and three subsidiaries of Busan Savings Bank — Jungang Busan Savings Bank, Busan II Savings Bank, and Jeonju [...] continue reading world news