KEICKorea Export Insurance Corporation
KEICKingdatron Electronic Industrial Co. (Taiwan)
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support plan to be announced early next month," KEIC said.
Under the MoU, both the companies will seek to promote co-operation in trade and /or investment credits provided by KEIC related to imports from Korean suppliers including imports for the IISCO Steel Plant project of a blast furnace and/or investments with Korean companies.
Under the terms of the MOU, Zurich and KEIC will work jointly to leverage and enhance existing political risk, export credit insurance and surety capabilities in order to better serve the needs of Korean investors, exporters and contractors.
Korean companies continue to expand their investments and operations in international markets," said KEIC President Ryu Chang-moo.
Second, the company's resolution of both the KEIC litigation and the First Intercontinental Bank dispute during 2008 eliminated the requisite professional legal fees to defend the company's position.
For this reason, the company has disclosed certain core operating results for the 2008 fourth quarter and full year, including noninterest expense, net income, earnings per share, efficiency ratio, return on average assets and return on average equity, adjusted to exclude the impact of the KEIC settlement and OTTI impairment expenses.
The third quarter of 2008 was a momentous period for Center Financial with the signing of settlement agreements that completely resolved all potential liabilities for the company under the consolidated KEIC action," said Jae Whan (J.
If not for the KEIC and OTTI expenses, noninterest expenses would have declined, and we would have reported improvements in our efficiency ratio, return on average assets and return on average equity, all on a linked quarter basis.
5 million to KEIC, consisting of cash consideration of $6.
On November 10, 2005, the Orange County Superior Court dismissed all claims of KEIC against Center Bank in this action on the grounds that federal courts have exclusive jurisdiction over KEIC's claims against the Bank.
These increases were partially offset by reduced professional service fees as legal expenses of $230,000 related to the KEIC insurance settlement were recouped during the quarter.
This is a major set back for KEIC," observed Charles E.