Korean Banks Face $749 Million of Losses in Overseas Properties [BNN Bloomberg (Canada)]
KB Financial Group Inc (KB)
US:NYSE Investor Relations:
kbfg.com/eng/ir/main/ir_main.jsp
Company Research
Source: BNN Bloomberg
of overseas real estate investments, according to an opposition party lawmaker, reflecting growing concern over the sector's exposure to falling valuations worldwide. Hana Financial Group Inc. has the largest exposure, with over 6.2 trillion won invested outside of the country, data from Yang Kyung-sook of the Democratic Party show. Yang's data, first reported by local media outlets including Yonhap, is based on information provided by the companies in mid-January. KB Financial Group Inc. has 5.7 trillion won of investment, while Shinhan Financial Group Co., Ltd. invested 4 trillion won. Woori Financial Group Inc. and Nonghyup Financial Group Inc. round out the top five in overseas real estate holdings. Credit investors in Korea are on the watch for signs of trouble after a branch of one of Korea's biggest credit unions was shut last year following losses on real estate-related loans. The potential for the US commercial real estate downturn causing trouble in Korea got hammered
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KB
Sec Filings
- 5/16/24 - Form 6-K
- 5/10/24 - Form 6-K
- 4/29/24 - Form 6-K
- KB's page on the SEC website