Press Releases

Dept.	Prompt Resolution Dept.	Date	11/01/2008
File
Subject	Signing contract for Selling Stake in Yeahreum MSB
Jan. 11, 2008 The KDIC signed a contract with Standard Chartered NEA Ltd. to sell its whole stake in Yeahreum Mutual Savings Bank (MSB) on Jan. 11, 2008. Standard Chartered NEA Ltd., a wholly owned subsidiary of Standard Chartered Bank, purchased SC Korea First Bank in 2005. It is expected that the sales process will be completed shortly after the approval of the stock acquisition by the Financial Supervisory Service (FSC). Yeahreum MSB is a bridge bank which was established by the KDIC in order to resolve three failed MSBs and assumed the sound assets and liabilities Good Friend Bank, Dae-woon Bank, and Hong-ik Bank. It is an excellent example of resolving insolvent MSBs by establishing a bridge bank.

next	New Executive Director of KDIC was appointed
previous	The 6th Chairman and President of KDIC was newly appointed