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Hana Bank Acquires Seoul Bank.

Asia Africa Intelligence Wire

| September 13, 2002 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From Korean Industry Update)

Hana Bank has become a new owner of Seoul Bank as the Public Fund Oversight Committee (PFOC) has finally designated the blue-chip bank as buyer of the ailing bank.

In this connection, the two banks will be merged in this coming December as a formal contract is expected to be concluded later this month, according to PFOC …

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