[Editorial] Misguided merger plan
May 13, 2011
The government appears to be promoting a merger between Woori Finance Holdings Co. and KDB Financial Group to create a “mega bank” with assets exceeding 500 trillion won ($458 billion), roughly half of the nation’s gross domestic product. The Public Fund Oversight Committee, which is tasked with recouping taxpayers’ money used to bail out distressed companies, will convene on May 17 to restart t...