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Friday, 5 June 2015

KorEconomics 101 (한국경제학개론), Part III: Korea Development Bank (KDB)


Korea Development Bank (Abbreviation: KDB; Hangul/Hanja/Romanization: 한국산업은행/韓國産業銀行/Hankook San-eop Eunhaeng) is a wholly state-owned policy bank in Korean Republic. It was founded in 1954 in accordance with The Korea Development Bank Act to finance and manage major industrial projects to expedite industrial development and enhance the national economy. The Headquarters of this bank is located at 14 Eunhaengno, Yeouido-dong 16-3 beonji, Seoul Yeongdeungpo-gu - opposite to Yeouido Park.

As Korea’s representative development financing bank, No. 1 arranger in Asia-Pacific project finance market and leader of domestic capital market, KDB has fostered the growth and heightened the competitiveness of strategic industries by meeting their changing financial needs. Following public policy, KDB facilitates the management normalization of troubled companies through corporate restructuring and consulting services, and provides capital for strategic regional development projects.

KDB provides various banking and financial products and services in South Korea and internationally. The company operates through Corporate Finance, Investment Finance, Asset Management, Others, Securities, Overseas, Insurance, and Other subsidiaries segments. It offers corporate banking services, including facility capital, working capital loans, etc.; equity investments, public/corporate bonds, private placement securities, etc.; debt, payment, bond guarantees, etc.; and corporate restructuring and consulting services. The company also provides investment banking services comprising M&A services for local and foreign companies, primary and secondary equity offerings divesture, debt restructuring, business reallocation consulting, and foreign capital inducement; venture capital for information technology, nanotechnology, cultural technology, biotechnology, environmental technology, and space technology industries; project finance; and private equity services, as well as engages in funding activities.

In addition, it offers international banking services consisting of syndication, structured finance, trade finance, and cross-border corporate trade finance, as well as foreign exchange, international bond, and derivatives trading services; and insurance products. Further, the company provides consulting services in the areas of new projects, corporate management strategy, corporate restructuring, and financial advisory and arrangement services, as well as public, development, and overseas projects. Additionally, it offers consumer banking products and services, such as deposits, loans, bonds, funds, bancassurance, check cards, etc.; private banking services comprising asset management, safe-deposit box, tax and legal counseling, and preferential fee treatment services; and account management services, as well as manages various funds and trusts.

KDB became a private entity in 2009 and was transformed into a financial holding company under the name KDB Financial Group. As a member of the Group, KDB Bank itself operates with 2,630 dedicated employees; its network consists of 64 local and 8 overseas branches, 5 overseas subsidiaries and 4 overseas representative offices worldwide.