Ibaraki Shogin goes belly up

Ibaraki Shogin goes belly up

MITO, Japan - Hong Duk Yong (L), president of Ibaraki Shogin, one of dozens of ''shogin'' credit unions serving Korean residents in Japan, speaks at a news conference Feb. 16 after applying to the Financial Services Agency for protection of its deposits under Japan's financial-system revival law, giving up attempts to rehabilitate itself on its own.

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  • ILEA000007463
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  • Kyodo / Kyodo News Images
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