The trauma of the crisis haunts South Korea as it faces a credit crunch

Past financial crises haunt South Korean policymakers as they rush to prop up a local credit market that has quickly gone from one of the safest in the world to teetering on the brink.

As South Korea is embroiled in a global debt market rout, corporate treasurers and market regulators in Seoul are watching one of the fastest deteriorations in the country’s credit market. The rout is one of the worst in Asia’s local currency markets amid a broader fixed-income slump this year.

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