Korean junk-bond funds? No thanks

South Korea's Financial Supervisory Service is trying to jump-start the nation's high-yield debt markets by expanding tax breaks on funds that invest in them. But distributors and fund managers don't want anything to do with the asset class."Distributors are allergic to the words 'high yield'," says Hwang Sung-ho, president at PCA Asset Management in Seoul.The FSS has announced investors will only be levied 5% of capital gains on junk bond funds for up to W100 million ($106,000) per i…