South Korea's state-run Korea Development Bank announces its plan to...

South Korea's state-run Korea Development Bank announces its plan to acquire a 25% stake in Daewoo Securities Co. The bank intends to invest approximately 500 billion won ($448.6 million) in the acquisition, which will make it the largest shareholder in Daewoo Securities Co.The move by Korea Development Bank signals a strategic investment aimed at bolstering its position in the financial industry and expanding its reach in the region. The acquisition of a stake in Daewoo Securities Co. would also provide the bank with access to a broader range of financial products and services, including investment banking, securities trading, and asset management.

Saturday, 13 May, 2000