[Asia Economy Reporter Kwon Jae-hee] Samsung Life Insurance has secured a short-term borrowing limit of 3.6 trillion KRW to prepare for a liquidity crisis.
Samsung Life Insurance announced on the 30th that at the board meeting held the previous day, it resolved to secure a short-term borrowing limit of 3.6 trillion KRW.
The borrowing limit includes the existing repurchase agreement (RP) sale balance of 200 billion KRW, totaling 3.6 trillion KRW.
The execution period is until the end of next year.
Samsung Life Insurance plans to borrow within the 3.6 trillion KRW limit through overdraft or repurchase agreement (RP) sales.
This measure is understood to be prepared as a liquidity response in case of a severe tightening of the money market.
Samsung Life Insurance stated, "This measure is a pre-setting of a short-term borrowing limit for rapid liquidity response in emergencies, not the actual borrowing amount."
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