Yesterday it was announced that KT, Korea’s telephone and IPTV company, and Softbank, a Japan-based telecom and Internet group will equally invest 20 billion won in a joint fund to secure contents for digital media such as web-based television. By signing the deal with the Japanese company, KT, the No. 2 IPTV operator, wants to secure copyrights to a vast volume of content, (more…)
Here comes another news warning hemorrhaging savings banks of south Korea. The news reported that the Financial Services Commission yesterday ordered nearly bankrupt Hyundae Mutual Savings Bank, which is nothing to do with Hyundai group, to suspend its operation for six-months. The news added that, according to industry insiders, six savings banks of 108 nationwide as of late December failed to meet the minimum 5 percent requirement for capital adequacy (more…)
I found a very informative article for foreigners interested in Korean project financing market. Korean project financing deal is largely dominated by real estate development financing deal. The author addressed current situation and problem of Korean Savings banks regarding withering Korean project financing market. I have seen many bank clients considering extension of their project financing or ABCP terms due to the withering project-financing market and (more…)
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 (more…)