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S.Korea KAMCO to buy $639 mln bad loans from banks

Sun Jun 28, 2009 7:28pm EDT

SEOUL, June 29 (Reuters) - State-run Korea Asset Management Corp (KAMCO) said it would buy real estate-related bad loans with a book value of 816.4 billion won ($638.6 million) from banks on Monday.

The debt clearing agency also said in a statement it would expand targets for its purchase of bad assets into insurance companies, securities houses, asset managers and other financial services companies from next month.

($1=1278.3 Won)

(Reporting by Kim Yeon-hee; Editing by Yoo Choonsik)



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