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Reuters
INTERVIEW-S.Korea says banks, firms can weather shock
10.12.08, 9:06 PM ET
Korean Republic (south) - (Writes through with quotes and details)
By Paul Eckert, Asia Correspondent
"We are very happy that we did not invest huge amounts in
American derivatives," said Kang, describing South Korean
exposure to toxic assets as "very small."
Kang, who negotiated South Korea's own emergency bailout
with the IMF 10 years ago, said some lessons from those
painful times may apply to the United States now.
"The action plan must be decisive, preemptive and sufficient,"
he said. Of these qualities, the "sufficient" part was most important
in restoring confidence, he stressed.