Rumor on the Potential Merger of Kookmin Credit Card(Jul. 22, 2002)
2002-07-22On July 19, 2002, the Korea Stock Exchange requested Kookmin Bank to confirm the rumor on the potential merger between Kookmin Bank and Kookmin Credit Card, which has been rampant in the investment society.
On this request, Kookmin Bank officially announced as follows:
Kookmin Bank is currently in the process of reviewing various options in connection with the integration of the Bank’s credit card business, which has been operated under the dual brand system since it merged with H&CB as of November 1, 2001. The options currently contemplated on how to streamline the BC Cards and Kookmin Credit Cards include, inter alia, maintenance of dual brands, sale of either brand, or merger of one brand into the other. The decision on the future direction is yet to be made.
We will disclose more detailed information when it is available.