SWF Radar KDB

Thomson Reuters reports that, “The Financial Services Commission said last week state-run Korea Development Bank would contribute 2 trillion won [$1.4 billion] to the 10 trillion won ($6.9 billion) fund [to buy domestic bonds issued by local companies].”

The Korea Times reports that, “South Korea’s state-run Korea Development Bank (KDB) said Friday that it signed a preliminary deal with Hanwha Group on the sale of a controlling stake in Daewoo Shipbuilding & Marine Engineering…KDB, the shipyard’s biggest shareholder, didn’t disclose the sale price, but industry sources estimate that Hanwha offered over 6.5 trillion won ($4.71 billion) for the stake.”

Bloomberg reports that, “State-run Korea Development Bank [KDB] received Federal Reserve approval to sell as much as $830 million of commercial paper to the U.S. central bank, becoming the first Korean bank to tap the new funding facility.”

Bloomberg reports that, “Lehman Brothers Holdings Inc. spurned Korea Development Bank’s offer of $6.40 a share for a controlling stake in the weeks preceding its bankruptcy, the Korean bank’s Chief Executive Officer Min Euoo Sung said.”

The Korea Times tackles a good question.

Thomson Reuters reports that, “Lehman Brothers Holdings could have avoided bankruptcy had it accepted an offer made by Korea Development Bank (KDB), the head of the state-run bank [Min Euoo-sung] said on Tuesday.”

The Korea Times reports that, “The Korea Development Bank (KDB) is still interested in Lehman Brothers, depending on how the U.S. government deals with the Chapter 11 bankruptcy filed by Wall Street’s fourth largest investment bank. Korean firms invested $720 million in Lehman, according to the Financial Services Commission.”

The Times reports that, “Lehman Brothers' shares dived after talks with Korean Development Bank about a takeover or capital injection in the struggling Wall Street brokerage fell through.”

Bloomberg reports that, “Korea Development Bank [KDB], the state- owned lender that’s pursuing a stake in Lehman Brothers Holdings Inc., aims to become Asia’s third-largest bank within five years, Chief Executive Officer Min Euoo Sung said.”

The Telegraph reports that, “Korea's financial regulator has warned Korea Development Bank for a second time to ‘carefully’ consider if the time is right to buy a stake in Lehman Brothers, the troubled US securities firm.”