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KBS Killed Lehman Brothers
2008 / 09 / 16 ( Tue ) 18:13
Korean Development Bank has been inadvertently and effectively advertising itself lately.
What does it mean? As a matter of fact, KDB tried to buy out Lehman brothers, or the
4th biggest investment bank in America, even though the result wasn't so good.
They didn't agree with the price and terms of acquisitions, and within our gorvornment were
there many people who stood against the plan, so they have almost given up now.
The president of the bank said, "if we missed this oppotunity, there wouldn't be another
chance to come korean finance industry would step up to the higher level", and tried to
acquire Lehman brothers. That, however, seems to fail.
With that said, KDB got suddenly famous among the international finance market
through the Lehman brothers takeover battle.
It's said that oversea media have described KDB quite differently than before this time.
So far they used to regard the bank as "south korea small bank KDB", but that expression
isn't used already. Up until now, the presence of South Korea at Wall Street was quite
limited, so it'd be safe to say that Korean development bank wasn't known at all.
It's said that the effect of advertising of KDB by this buying out was more than money
could buy. KDB's broadly known and the name is here to stay in Wall Street. According to
one of the PR team of KDB, in rough estimation the adverting effect would deserve 2 billion dollars at least.
KDB hasn't been successful in negotiation, but KDB's advertised itself quite successfully.