Mixed reports over Korea Development Bank's interest in Lehman has led the brokerage firm to fall further into the economic abyss.
The Korea Development Bank has taken on retail operations in Uzbekistan.
The likely buyer of Daewoo is the state-owned Korea Development Bank.
Early on Wednesday, it was hit with more bad news, with Korea Development Bank said that it was stopping discussions over taking a stake in the company.
But that would mean a bailout by the government-run Korea Development Bank exactly the sort of thing Margaret Thatcher refused to do for Britain's basket cases in the 1980s.
But Kia still hopes for a bailout by the government-run Korea Development Bank exactly the sort of thing Margaret Thatcher refused to do for Britain's basket cases in the 1980s.
Hopes that the Korea Development Bank would provide a cash infusion to Lehman Brothers Holdings -- or acquire the firm outright -- faded after South Korea's financial regulator said on Monday that the state-owned bank should be cautious over any investment in the brokerage house.
The 14 winners selected from that pool will now share more than a half a billion dollars from the United States, Canada, the Republic of Korea, the Inter-American Development Bank, and the Multilateral Investment Fund.
The companies that made the list were Korea Mining Development Trading Corporation (KOMID), Korea Ryonbong General Corporation and Tanchon Commercial Bank.
This would open the way for North Korea to join international organisations, such as the World Bank and the Asian Development Bank.
Following in the footsteps of downgrades by other intergovernmental organizations, the Asian Development Bank cut its growth forecast for Asia's developing economies, including China, India and South Korea, to 3.4%, from 5.6%, marking the slowest pace in a decade.
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