GR 86
312
да HKK 184
V MO. 51
- 5 JUN 1978 ·
RESTRICTED
RICHIVED
302
CYPHER CAT A
FM SEOUL 050600Z
RESTRICTED
INDEX
No
en
TO IMMEDIATE GOVERNOR HONG KONG TELNO 14 OF 5 JUNE 1978, AND TO IMMEDIATE BCARFE HONG KONG, R F I TO ROUTINE FCO.
AIR CARGO RATES YOUR TELNO 675 TO FCO OF 2 JUNE.
1. TR KOREAN WON IS NOT A FULLY CONVERTIBLE CURRENCY. AIRLINES HERE THEREFORE QUOTE THEIR RATES IN US DOLLARS. THE SITUATION IS THUS NOT DIRECTLY COMPARABLE WITH OTHER ASIAN MARKETS,
2, CPA TELL US THAT ALL AIRLINES CONVERT CHARGES AND FARES INTO WON AT EITHER THE BANK BUYING OR THE IATA RATE WHICHEVER 10SMORE FAVOURABLE. THERE IS NO GOVERNMENT REGULATION ON TH.
BATES
/COPIES SENT TO CAD/DOT/
FILES MAED
HK & GD SEAD
MR CORTAZZI
MISS BROWN
COPIES TO
MR OVERALL CAA SPACE HOUSE
HONG KONG GOVT OFFICE
6 GRAFTON ST
RESTRICTED
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