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SEOUL: South Korea’s finance minister said on Sunday the country was closely monitoring any impact of the collapse of a Silicon Valley bank on South Korean markets.
Top financial officials met on Sunday to discuss the collapse, the biggest banking failure since the 2008 financial crisis, the finance ministry said in a statement.
Banking regulators close SVB, move quickly to avoid crisis
The ministry said it would closely monitor the situation despite experts’ views that the startup-focused lender’s insolvency would not spill over into other financial systems.
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