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Article: Korea: KDB takes one step closer to privatization.

Article from:
TendersInfo
Article date:
October 29, 2009
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Byline: sanjayV03

The Korea Development Bank, the nation's largest state policy lender, set up a holding company yesterday, officially starting its privatization process.

The new entity - KDB Financial Group Inc. - will now compete with private players such as KB Financial Group, as it has handed over its role as a state policy bank to Korea Finance Corp., which was also launched yesterday.

"The (past) mission of the Korea Development Bank no longer holds as Korea has passed the stage of government-led economic development," said Kim Dong-hwan, a researcher of the Korea Institute of Finance.

Founded in 1954, the KDB has spearheaded ...

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