The South Korean government is seeking a substantial increase in the $20 billion (£13.4 billion) rescue package it is raising with the help of the International Monetary Fund. In a surprise move, Mr Lim Chang-Yuel, the country's finance minister, said South Korea had also agreed to accept assistance from the World Bank and Asian Development Bank.

Mr Lim said last night that the decision to seek "much more" than £20 billion reflected the level of South Korea's short-term debt and the need to maintain an "optimum level" of foreign exchange reserves, but he gave no target figure.

Meanwhile, An employee of a firm affiliated with failed Japanese brokerage Yamaichi Securities Co Ltd killed himself on Thursday by leaping from a building in the heart of Osaka's financial district, police said.