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Hana Bank Faces Penalties For $1.8 billion Tax Evasion

This morning one news article got my eyes on. The news reported that Hana Bank, one of the largest bank in Korea, is expected to be forced to pay up to 1.7 trillion won ($1.8 billion) in penalty taxes...

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Kookmin Bank Buying out Kazakhstan Bank

Today it was reported that Kookmin Bank would buy a majority stake of Bank Center Credit, the sixth-largest Kazakhstan commercial bank, worth $634 million. The deal is the largest overseas M&A by a...

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Lone Star & HSBC Extended KEB Deal Deadline to July 31

It was reported that Lone Star Fund and HSBC agreed to extend their contractual deadline for completion of HSBC’s proposed acquisition of 51.02 percent of Korea Exchange Bank(KEB) from April 30 to July...

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Hana Bank Wins 1.8 Billion Tax Evasion Case

Finally the National Tax Service ruled in favor of Hana Bank in its 1.8 billion tax evasion case.  On February, NTS forced Hana Bank to pay up to 1.7 trillion won ($1.8 billion) in penalty taxes for...

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Lone Star Not Guilty in Stock Price Manipulating Case, Seoul High Court...

Today just a few hours ago, the Seoul High Court sentenced partly not guilty to the head of U.S. private equity fund Lone Star’s South Korean operations (Lone Star Advisory Korea). Last February Seoul...

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U.S. Private Equity Fund, Lone Star, Sent a Letter to Korean Government...

Last week, the Korean government announced that it would initiate a reviewing process for the approval of the KEB sale soon.  Interestingly enough, today it was reported also that before the...

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HSBC, “No More Bid for Korean Bank”

It is reported that Mr. Matthew Deakin, the president of the HSBC Korea, said on last Wednesday that HSBC Holdings Plc had no plan to acquire a local Korean bank for now.  Last year, HSBC walked away...

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A Guide to M&A Processes in South Korea – Merger Filing

Like many other countries, South Korea has its own merger notification & competition review regimes.  This means if your M&A deal involving a Korean company or business meets the merger...

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