| Description |
1 online resource (38 pages) : illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/03/235 |
|
IMF working paper ; WP/03/235.
|
| 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 SUMMARYV. SALE PROCESS AND REPRIVATIZATION -- VI. BROADER ISSUES -- A. Role of Government -- B. Role of the Board -- C. Governance Issues -- VII. RETROSPECT AND CONCLUSION |
| Summary |
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 |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
|
Print version record |
| Subject |
Sŏul Ŭnhaeng.
|
|
Sŏul Ŭnhaeng |
|
Banks and banking -- Korea (South)
|
|
Banks and banking -- Government ownership -- Korea (South)
|
|
Sale of banks -- Korea (South)
|
|
Banks and banking
|
|
Banks and banking -- Government ownership
|
|
Sale of banks
|
|
Korea (South)
|
| Form |
Electronic book
|
| Author |
International Monetary Fund. Asia and Pacific Department.
|
| ISBN |
1283568853 |
|
9781283568852 |
|
9781451920277 |
|
145192027X |
|
9781451875676 |
|
1451875673 |
|
