European Parliament Library

From the Front Lines At Seoul Bank :, Restructuring and Reprivatization, Chungwon Kang

Other version
From the Front Lines At Seoul Bank :, Restructuring and Reprivatization, Chungwon Kang
Soon after Korea agreed to an IMF-supported program, Seoul Bank and Korea First Bank were nationalized through an injection of public funds by the government. The two banks were singled out early in the IMF-supported program to be sold to foreign investors. Korea First Bank was sold to foreign investors at the end of 1999. Seoul Bank, however, remained a government-owned bank, managed by a team of professionals recruited from outside of the traditional banking sector. This paper describes the restructuring of Seoul Bank by the new management team between June 2000 and October 2002, when the bank was sold to Hana Bank in a merger transaction
international or intergovernmental publication
Literary form
non fiction
Main title
From the Front Lines At Seoul Bank :
Nature of contents
Responsibility statement
Chungwon Kang
Series statement
IMF Working Papers
Sub title
Restructuring and Reprivatization
Table of contents
""Contents""; ""I. INTRODUCTION""; ""II. BACKGROUND""; ""A. Seoul Bank Before the Crisis""; ""B. Seoul Bank in the IMF-Supported Program""; ""C. Seoul Bank in the Context of Banking Sector Restructuring""; ""D. Korean Government Efforts to Deal with Seoul Bank""; ""III. RESTRUCTURING IN PRACTICE""; ""A. CEO Selection and Formation of the Management Team""; ""B. Operational Restructuring""; ""C. Seoul Bank Employees""; ""D. Balance Sheet Restructuring""; ""E. Rebuilding Business: New Focus, Culture Change, and New Image""; ""F. Final Recapitalization and the Memorandum of Understanding""""IV. PERFORMANCE SUMMARY""""V. SALE PROCESS AND REPRIVATIZATION""; ""VI. BROADER ISSUES""; ""A. Role of Government""; ""B. Role of the Board""; ""C. Governance Issues""; ""VII. RETROSPECT AND CONCLUSION""