Korea’s Top Hedge Fund Freezes $710 Million As Investors Try to Withdraw

Lime Asset Management Co., South Korea’s largest hedge fund with about $4 billion of assets, suspended withdrawals from more funds on Monday, freezing a total of $710 million of its portfolio, after the firm said last week it couldn’t sell assets fast enough to meet redemption demands.

The hedge fund halted an additional 243.6 billion won ($210 million) today after freezing funds worth 603 billion won on Oct. 10, Won Jong-Jun, chief executive officer at the Seoul-based firm, said in a press briefing this afternoon. A further 489 billion won of funds may also be restricted from withdrawals, he said.