From the Front Lines At Seoul Bank: Restructuring and Reprivatization
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
Soon after Korea agreed to an IMF-supported program, Seoul Bank and Korea First Bank were nationalized through an injection of public funds by the government. The two banks were singled out early in the IMF-supported program to be sold to foreign investors. Korea First Bank was sold to foreign investors at the end of 1999. Seoul Bank, however, remained a government-owned bank, managed by a team of professionals recruited from outside of the traditional banking sector. This paper describes the restructuring of Seoul Bank by the new management team between June 2000 and October 2002, when the bank was sold to Hana Bank in a merger transaction.
Series:
Working Paper No. 2003/235
Subject:
Bank credit Bank resolution Banking Commercial banks Credit Financial crises Financial institutions Loans Money Nonperforming loans
English
Publication Date:
December 1, 2003
ISBN/ISSN:
9781451875676/1018-5941
Stock No:
WPIEA2352003
Pages:
39
Please address any questions about this title to publications@imf.org