Bank consolidation, Korean style – Part 1

Korea's government has announced the "second stage" of its financial restructuring programme, starting with the creation of two "super-banks". The merger of Kookmin and H&CB, apparently through the choice of its own CEOs, makes sense. But the creation of a holding company including Hanvit and a group of regional banks seems, at best, eccentric. But what seems practical elsewhere in the world doesn't necessarily work in Korea. By Chris Wright.