Hana knows its got Seoul

With Lone Star eliminated, Hana Bank is the winning bidder for Seoul Bank.

The Korean government's decision to sell Seoul Bank to Hana Bank rather than the foreign investment fund, Lone Star signals a change of direction

On two previous occasions banks had been sold to foreign investment firms, the lucky buyers being Newbridge Capital and Carlyle; meanwhile the government watched Korea's economy boom; and saw that the domestic bank merger between Kookmin and H&CB had proven a phenomenal success

So few ought to be surprised that when faced this time round with a bid from a foreigner and from a domestic entity it opted for the latter; and to gain the chance to create another large, Korean financial champion

In strictly financial terms it may have been...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222