Today it was reported that Kookmin Bank would buy a majority stake of Bank Center Credit, the sixth-largest Kazakhstan commercial bank, worth $634 million. The deal is the largest overseas M&A by a Korean financial institution.

Kookmin bank is targeting to become a leading bank not only in Kazakhstan but also in Central Asia, which holds 3.3 percent of the world’s oil.

Here is the news article.

© 2008 Wonil Chung, a Korean Banking Lawyer/Chung & Partners, a Korean Banking Law Firm.  All rights reserved. Some copyrights, photos, icons, trademarks, trade dress, or other commercial symbols that appear on this post are the property of the respective owners.