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KDB Mulls 50 Bln Won in Loan to Hanjin Shipping

KDB Mulls 50 Bln Won in Loan to Hanjin Shipping

SEOUL, Sept. 22 (Korea Bizwire) – The state-run Korea Development Bank, the main creditor of the cash-strapped Hanjin Shipping Co., is considering loaning some 50 billion won (US$45.4 million) to help the ailing shipper unload its cargo, industry sources said Thursday.  According to the sources, the KDB will finalize the loan extension this week to [...]

Mirae Asset Likely to Join Hyundai Securities M&A

Mirae Asset Likely to Join Hyundai Securities M&A

SEOUL, March 21 (Korea Bizwire) - Mirae Asset Securities Co. is considering joining a bid to take over Hyundai Securities, industry sources said Sunday. Emboldened by the acquisition of Daewoo Securities from Korea Development Bank, Mirae may join hands with LK Investment Partners, a local private equity fund (PEF). If realized, it would jolt the competition that has [...]

KDB Pushing Daewoo to Restructure

KDB Pushing Daewoo to Restructure

SEOUL, Oct. 23 (Korea Bizwire) – As financial authorities and creditors have held off a plan to support the normalization of Daewoo Shipbuilding & Marine Engineering, the union from the Korea Development Bank (KDB) is pushing for a restructuring based on fundamentals. KDB’s union urged Daewoo to restructure even if the companies goes under legal [...]

Competition Heats Up for Industry Titan KDB Daewoo Securities

Competition Heats Up for Industry Titan KDB Daewoo Securities

SEOUL, Oct. 8 (Korea Bizwire) — South Korean securities companies are waging a fierce competition to take over KDB Daewoo Securities Co., one of the nation’s leading brokerages, in a deal that could come as a game changer for the industry. The Korea Development Bank (KDB), a state-run policy lender, is seeking to sell off [...]

Regulator to Set Up Special Entity to Deal Corporate Workout Programs

Regulator to Set Up Special Entity to Deal Corporate Workout Programs

SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s top financial regulator will set up an entity that mainly deals with corporate restructuring later this year to put government-led workout programs in private hands, officials said Thursday. In a report submitted to the parliament, the Financial Services Commission (FSC) said it has inked a memorandum of [...]

KDB, Exim Bank Struggle with Mounting Bad Loans

KDB, Exim Bank Struggle with Mounting Bad Loans

SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s two policy lenders have shouldered massive bad loans, estimated at 5.5 trillion won (US$4.75 billion), over the past five years, due to a series of collapses of big name companies during the economic slump, a report said Tuesday. The Korea Development Bank (KDB) and the Export-Import Bank of [...]