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KB Financial: A Bargain From South Korea (NYSE:KB) seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.
KB Financial Group has solidified its status as a leading banking conglomerate by diversifying its revenue streams and strengthening its business portfolio beyond traditional lending activities. For two consecutive years, the group achieved net profits exceeding 4 trillion won ($3.1 billion) since 2021. It regained its title as the country's leading financial group in 2017, when its net profit surpassed 3 trilli. ....
By Park Jae-hyuk Yulchon, one of the largest law firms in Korea, has come under the spotlight after KB Kookmin Bank was embroiled in a 1.6 trillion won ($1.4 billion) lawsuit in Indonesia over its acquisition of Bukopin Bank, which had been completed last August in accordance with the Korean law firm s advice. The outcome of the latest litigation, which remains unclear at this moment, appears set to sway the reputation of Yulchon, which has aggressively helped Korean banks with cross-border acquisitions in the Southeast Asian country, including state-run Korea Development Bank s takeover of Tifa Finance last September. When KB Kookmin was trying to take over Bukopin last year, the law firm was known as a hidden force by plotting strategies for dealing with the Indonesian bank s largest shareholder, helping the Korean bank obtain a license from financial authorities in both countries, structuring the transaction, performing due diligence and drafting the purchase agre ....