S. Korean economy slips into stagflation: survey
South Korean people felt that its economy slipped into stagflation, or stagnant economy amid high inflation, a survey by the local think tank showed Sunday.
In a move to calm its frazzled financial markets, South Korea said it will back as much as $100 billion of its banks' foreign-currency debt and could make $30 billion of its foreign exchange reserves available to the banking sector, reports from the region said Sunday.