Korea Development Bank, South Korea’s largest state-owned lender, is considering bidding for a stake in Siam City Bank Pcl of Thailand, a person familiar with the matter said.
Korea Development Bank Chief Executive Officer Min Euoo Sung is in Thailand for meetings with relevant officials, the person said, declining to be identified because the talks are preliminary. Local newspaper Chosun Ilbo earlier reported the company’s interest in Thailand’s seventh-biggest lender.
Min, also chairman of parent KDB Financial Group Inc., said in a Nov. 16 interview he plans to buy at least two lenders in Asia this year, without naming potential targets or countries. The executive has said he wants to acquire commercial banks to build KDB’s deposits before an initial public offering scheduled for next year.
The environmental case for remote working
Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19.
Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI
The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.
The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.(more…)
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