The Korea Federation of Banks (KFB), a trade association representing the interests of the Korean banking industry, has amended its Guidelines Concerning Management and Sale of Capital Stock Acquired by Creditor Financial Institutions by way of Debt-to-Equity Swap (the KFB Guidelines) to enhance the level of transparency during the sale of restructured companies. The amended KFB Guidelines, to which all banks in Korea are bound, took effect as of June 3 2005 and will apply to the up-coming sale of restructured companies.
June 30 2005