Korea's real winners: local banks not foreign private equity
With the Lone Star probe nearing an end, we reprint the November cover story from FinanceAsia magazine. It analyses how Korean banks have made more profit from their investments than foreign private equity firms.
ItÆs hardly a dirty secret, but nor has it
been well publicised. Indeed, in a
climate in which South Koreans rail
against the profits made by foreign
private equity firms, it will surprise
many in Korea that the biggest æprivate
equityÆ profits have probably been made by
the Korean banks themselves.
How so Well, ironically, itÆs largely thanks
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