SEOUL Nov 25 South Korea's finance minister said on Friday he expects business conditions to worsen due to local interest rates tracking rising U.S. yields, and volatility gripping financial market.
"Marginal companies (in South Korea) are expected to see some adverse effects from the rising interest rates following increases in U.S. yields, and growing financial market volatility," Yoo Il-ho said in a meeting with other ministers in Seoul.
Speaking on the ongoing corporate restructuring process, he said that the government will secure 6.5 trillion won to help shipping firms by the end of this year.
(Reporting by Cynthia Kim; Editing by Simon Cameron-Moore)
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