Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Opposition-led Assembly unilaterally passes bill to probe Marine's death

    Opposition-led Assembly unilaterally passes bill to probe Marine's death
  2. 2

    Inflation eases in April, continues bumpy ride

    Inflation eases in April, continues bumpy ride
  3. 3

    Golden chance to liquidate babies’ gold rings?

    Golden chance to liquidate babies’ gold rings?
  4. 4

    Seoul to more than double military drones by 2026 to counter NK threats

    Seoul to more than double military drones by 2026 to counter NK threats
  5. 5

    [New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea

    [New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
  1. 6

    Seoul alerts overseas missions to NK terror threats

    Seoul alerts overseas missions to NK terror threats
  2. 7

    Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House

    Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
  3. 8

    Over 60% of S. Koreans support W100m childbirth incentive: survey

    Over 60% of S. Koreans support W100m childbirth incentive: survey
  4. 9

    ‘Inside Out 2’ adds four new emotions, explores teenage life

    ‘Inside Out 2’ adds four new emotions, explores teenage life
  5. 10

    Questions raised over fair promotion of RM, NewJeans

    Questions raised over fair promotion of RM, NewJeans
피터빈트

3 financial groups taken off list of public institutions

By

Published : Jan. 31, 2012 - 21:58

    • Link copied

South Korea has taken three state-owned financial groups off the list of public institutions, paving the way for their privatization process, the finance ministry said Tuesday.

KDB Financial Group, the Korea Development Bank (KDB) and the Industrial Bank of Korea (IBK) were taken off the list of public institutions whose management is subject to government supervision, according to the ministry.

The move comes as the government is pushing to sell stakes in those financial institutions. The ministry said that the decision is intended to ease market uncertainty and clearly demonstrate the government's will to privatize the banking groups.

KDB Financial, a financial holding company whose flagships include KDB, is currently pushing for its initial public offering.

The IBK is also seeking to sell a 1 trillion won stake this year.

Earlier in January, KDB Financial Chairman Kang Man-soo told reporters that the government is expected to sell its 10 percent stake in the state-run group this year, mostly to domestic institutional investors.

(Yonhap News)

More from Headlines