The Credit Crisis Timeline

The banks, led by Shinhan and Kookmin, expect the bad bank to be set up by the end of next month, run until 2014 and clear up some Won5,000bn (US$4bn) of troubled loans. The other banks involved are Hana, Woori, the Industrial Bank of Korea and Nonghyup, according to a statement from the Korea Federation of Banks. ................
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