KDB CONFIRMS INTEREST IN INVESTING IN LEHMAN BROTHERS

tauringhuang.

Korea Development Bank confirmed yesterday it was in talks about a possible investment in Lehman Brothers, the beleaguered US investment bank that is under pressure to raise more capital before it reports earnings later this month.

“Our CEO confirmed that talks are going on,” KDB said yesterday. But the state-run Korean bank declined to give any further details.

Min Euoo-sung, KDB's new chairman and a former head of Lehman in Korea, recently said the lender would actively seek overseas takeovers, adding that the fallout from the US subprime crisis provided an opportunity for KDB.

A spokesman for Lehman in Seoul declined to comment.