April, 03, 2010

The chief of Kookmin Bank (KB) emerged from months of reticence and vowed to push for mergers or acquisitions with other banks.The so-called ``mega bank’’ plan is in line with the government’s latest initiative to increase the size of banks.Kang Chung-won, CEO of Kookmin Bank, was full of energy in his monthly speech to employees, Friday, despite a recent series of difficulties facing him and his bank.

``If the mega-bank initiative is to be realized and the Korean financial industry is to take a big leap, then Kookmin Bank should play a leading role,’’ Kang said in the speech, which was also released to the press.The confident comment came two days after the nomination of Choi Joong-kyung as senior presidential secretary for economic affairs. Choi has insisted that the government should create a super-size bank by merging two or more retail outfits.

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