South Korea's Bailout Balloon

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The ink is barely dry on the International Monetary Fund's deal to bail out South Korea's floundering financial system. But the facts seem to still be changing, says Money Daily. The original figure, a record-setting $55 billion, was revised up to $57 billion. Now, reports peg the amount at over $60 billion, including new commitments Friday from Belgium, the Netherlands and Sweden.

Not to be humbled by the assistance, South Koreans apparently view their would-be saviors as manipulative "puppeteers", reports the New York Times. Editorials in several South Korean newspapers have been calling the conditions attached to the aid "disconcerting," with one noting that, "It is not wise for our friendly relations to use such a crisis situation for selfish benefit."

Meanwhile, the blood-letting begins. South Korea's government, announced Friday that insolvent financial institutions should close, and shut the doors at Coryo Securities, one of the country's major brokerage firms.