The South Korean government is planning to begin the process to privatize state-run Korea Development Bank after it sets up guidelines to privatize Woori Finance, reported Maeil Business.
The unsourced report claimed that the government has been preparing to divest its stake in Woori Finance, the listed South Korean financial holding company since earlier this year and was planning to complete the anticipated divestment by early next year.
The report claimed the government is expected to start the same process for Korea Development Bank around that time.
For more stories on privatization within Korea’s financial industry see here.
Source: Maeil Business (translated)
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