Korea reshapes policy banks by re-merging KDB and KoFC

South Korea is combining Korea Finance Corporation with Korea Development Bank less than four years after KoFC was spun off from the development bank. The move comes amid government efforts to reinforce the role of policy banks to help soothe stresses in the financial system.

  • By Frances J. Yoon
  • 28 Aug 2013
The Financial Services Commission said in a August 27 statement that it will be combining KoFC and KDB Financial Group into KDB and sell off KDB’s subsidiary units. It will also transfer KoFC’s overseas assets worth W2tr ($1.8bn) to Export-Import Bank of Korea. Meanwhile, plans to privatize Industrial ...

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