(24 Nov 1997) T/I: 10:08:25
South Korea on Monday (24/11) began talks with a team from the International Monetary Fund over the terms of a multi-billion dollar bail-out.
Seoul stock prices had plunged 5.9 percent by noon close, amid concerns over the negative effects of the loan. Dealers believe investors are dumping shares as they are worried the IMF loan will not be good for the country.
The weakening economy is causing concern throughout the country and a group of women protested outside a department store on Monday, urging the authorities to halt the decline.
SHOWS:
SEOUL, SOUTH KOREA 24/11
IMF team arrive at ministry building,
CU finance ministry sign,
IMF and South Korean ministers shake hands and sit down,
IMF and South Korean officials seated at meeting table,
IMF and South Korean officials at another meeting table;
Housewives protesting outside Hyundai department store asking people to buy South Korean goods,
woman leading chanting with megaphone;
Women exchanging American dollars for South Korean money in a symbolic gesture to shore up depleted currency reserves;
WS city, various of dealers at the Daewoo stock company,
VS of traders and price bulletin boards.
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