The Financial Services Commission (FSC) said it would put the lender and its affiliates under a holding company and establish a policy financing agency by December.

It said the government would list the holding company on the local stock market next year and sell a 49 percent stake in the lender by 2012 to local and foreign investors. FSC chairman Jun Kwang-Woo said the watchdog would turn KDB into a global player by allowing it to acquire other financial companies.

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