Second, they may lose some interest because KDIC
does not protect interest that exceeds some level KDIC
designates based on commercial banks' interest level, which is substantially lower than that of savings banks.
MOFE was given the task of preparing and coordinating economic policies, drafting tax and customs legislation, and formulating policies for the financial system; FSC/FSS was charged with supervising financial institutions; BOK was responsible for maintaining monetary stability and keeping an oversight of the financial system; and KDIC
was assigned to protect depositors.
In 2002, the KDIC
sold approximately 12 percent of the voting shares of WFH in a public offering, and it now owns approximately 88 percent of WFH.
has set July 13 for the submission of bids for Jeonju Savings Bank, Daejeon Mutual Savings Bank and Bohae Mutual Savings Bank, and expects to finalise the preferred bidder by early August.
The latest block sale, part of the government's ongoing efforts to privatise the financial holding firm, comes after KDIC
sold a seven percent stake for KRW866bn in November.
The state-run KDIC
also said that it will soon take legal measures to seek restitution for the 411.
will accept letters of intent from potential bidders until June 18, 2001, and will identify the final candidates by July 4, 2001.
, and establishing consolidated supervision.
In announcing interim results of an investigation into financial irregularities among affiliates of the Daewoo and Kohap groups, the KDIC
said eight former Daewoo chief executive officers sold 9,958 million won (US$7.
will also seek compensation from them for financial damage caused to the companies.
injecting W12 trillion into the sector from the KDIC
, and establishing
Company, injecting W12 trillion into the sector from the KDIC