All posts tagged Korea’s financial industry
Foreigners may acquire Korea’s troubled savings banks
Korea’s JoongAng Daily reported that Kim Seok-dong, the chairman of the Financial Services Commission, stated that there would not be any discrimination between foreign and domestic investors who might want to acquire local savings banks.
This statement was in response to …
KDB president opposes domestic bank mergers
The president of state-run Korea Development Bank (KDB), which is seeking to privatize a controlling stake in Woori Finance, is not in favor of mergers between local banks,
KB Financial president-nominee seeks diversification
The nominee for president of KB Financial would consider buying only the non-banking unit of Woori Finance, not the whole group, reported the Seoul Economic Daily. The report cited
Forum gives foreign-invested financial institutions a voice
On April 29, Korea's Financial Supervisory Service (FSS) held its annual forum for foreign-invested financial institutions. Titled "FSS Speaks", the forum was established last year, as Seoul seeks to
Restructured Yes Savings Bank to be sold
Korea Deposit Insurance Corporation (KDIC), the state-run financial services company, is seeking to sell Yes Savings Bank, according to Korea Economic Daily. Yes Savings is a South Korea-based lender, with assets valued at KRW
Woori Finance Privatization Update: Share buyback, M&A scenarios raised
Korea Deposit Insurance (KDIC) assessing share buyback, whilst the idea of forming a 'megabank' through a merger with KB and/or Hana financial groups is raised. The Seoul Economic Daily
Update: Possible Hana-Woori merger
Hana Financial is seen as a potential merger candidate in the privatisation process of its peer Woori Finance, reported the Kyung Hyang Shinmun. The
Prudential Sale: Macquarie and Hanwha shortlisted
Macquarie Group, the Australia-listed financial services group, is believed to have been shortlisted to buy Prudential's South Korea-based brokerage businesses, Reuters reported yesterday. Macquarie shortlisted for Prudential assets In summary
Woori Finance could be merged prior to privatisation
Woori Finance could be merged with another financial services firm before the government divests its stake in it, Maeil Business reported here (Korean). The report cited Jin Dong-su, the
