Most Popular
-
1
1 in 3 Koreans live alone, family types becoming diverse
-
2
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
3
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
4
Contentious grain bill put directly to plenary meeting for vote
-
5
Why is Apple Pay struggling to get purchase in Korea?
![[Today’s K-pop] BTS pop-up event to come to Seoul](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/17/20240417050734_0.jpg&u=)
Financial regulator halts review of KT's plan to raise stake in K bank
By YonhapPublished : April 17, 2019 - 20:13
The financial regulator said Wednesday it has halted its review of a plan by KT Corp. to raise its stake in Internet-only K bank, citing an anti-trust inspection into the telecom firm.
KT, the nation’s biggest fixed-line Internet operator, asked the Financial Services Commission to review its plan last month as it seeks to a larger stake in K bank, which was launched in 2017 by a KT-led consortium.
K bank has planned to raise 592 billion won ($522 million) later this month via a rights offering.
In a statement, the FSC said it decided to suspend the review because the Fair Trade Commission, the country‘s corporate watchdog, is investigating into an allegation that KT violated an anti-trust law.
In January, a law came into force allowing information technology firms to hold as much as a 34-percent stake in an Internet-only bank.
However, the law prohibits a shareholder of an Internet-only bank from raising a stake in the bank if the shareholder is punished for violating an antitrust law. (Yonhap)
![[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/18/20240418050645_0.jpg&u=20240419100350)
