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China Support for Kim Jong Un Key to Stabilization, ING Says

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Dec. 19 (Bloomberg) -- Chung Yun Sik, the Seoul-based chief investment officer for equities at ING Investment Management Korea Ltd., which oversees about $16 billion, comments on the death of North Korean leader Kim Jong Il.

“We saw panic selling today amid concerns tensions on the Korean peninsula may intensify. ‘‘If China comes out this time and gives supporting comments for Kim Jong Un as successor, I think South Korean financial markets will quickly stabilize. ‘‘When North Korea’s founder, Kim Il Sung, died, markets stabilized quite fast.’’

To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net