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(LEAD) Foreign Lender Market Share Up After KorAm Takeover.
(From Yonhap)
SEOUL, Jan. 7 (Yonhap) -- Foreign banks in South Korea expanded their market share to 21.8 percent in October, following a foreign takeover of the country's KorAm Bank, the top financial watchdog said Friday.
""As of the end of October, foreign banks' total assets came to 270 trillion won (US$255 billion), or nearly 22 percent of South Korea's banking industry,"" the Financial Supervisory Service (FSS) said.
It compared with 15.5 percent market share at the end of 2003. At that time, foreign lenders operating in South Korea held assets of 181 trillion won.
""Government's efforts to attract foreign investors and the …
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