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Article: KDB Not to Sell Daewoo Securities.
- Article from:
- YON - Yonhap News Agency of Korea
- Article date:
- March 28, 2004
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SEOUL, March 28 (Yonhap) -- The state-run Korea Development Bank(KDB) said Sunday it will make Daewoo Securities Co. its subsidiary instead of selling it.Since taking over Daewoo Securities in May 2000, the state-run bank has held the position that it would sell Daewoo Securities after increasing the firm's value. KDB also plans to include Seoul Investment Trust Co., in which Daewoo Securities has an 81.85 percent stake, as another subsidiary to strengthen asset management in preparation for a new law in that area that will be introduced this year.It will increase the capital stock of Seoul Investment Trust from 13.9 billion won to 40 billion won through ...