SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2002
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Kookmin Bank
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(Translation of registrant's name into English)
9-1, 2-Ga, Namdaemun-Ro, Jung-Gu, Seoul, Korea 100-703
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F _____
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Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1):____
Note: Regulation S-T Rule 101(b)(1) only permits the submission in
paper of a Form 6-K if submitted solely to provide an attached annual report to
security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7):____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in
paper of a Form 6-K if submission to furnish a report or other document that the
registration foreign private issuer must furnish and make public under the laws
of the jurisdiction in which the registrant is incorporated, domiciled or
legally organized (the registrant's "home country"), or under the rules of the
home country exchange on which the registrant's securities are traded, as long
as the report or other document is not a press release, is not required to be
and has not been distributed to the registrant's security holders, and if
discussing a material event, has already been the subject of a From 6-K
submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _____ No X
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New Business Development
On November 1, 2002, Mr. Jung Tae Kim, President and CEO of Kookmin Bank,
announced the following plan for the future.
Bancassurance
Mr. Kim said that Kookmin Bank would be distributing life insurance products of
ING Group, once he finalizes the current negotiation of strategic alliance. Mr.
Kim said that he would be willing to give ING Group an exclusive right to use
Kookmin Bank as distribution channel as long as the related rules and
regulations permit.
ING Shareholding Structure
In connection with the additional investment by ING Group in Kookmin Bank, Mr.
Kim said that he does not intend to raise additional capital by issuing new
shares because Kookmin Bank does not need to increase shareholders' equity for
now. Currently, ING holds 4 percent of shares in Kookmin Bank.
Overseas Market
Another plan was also disclosed that Kookmin Bank will seek to expand its
business in the markets abroad. He explained that retail banking products and
services will be provided. When this plan will be carried out was not mentioned,
however.
Credit Card Brand Integration
For the time being, Kookmin Bank has no intention to integrate Kookmin Credit
Card and BC card, the current internal card business. Before commencing the card
business integration, he said, that the credit card delinquencies must be
managed under control.
Kookmin Bank has been reviewing various options over the integration of its
credit card businesses since the merger a year ago. How the two businesses will
be integrated has not yet been decided.
Caution
This document contains forward-looking statements, as defined in the safe harbor
provisions of the United States Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect Kookmin Bank's current views with
respect to future events, and are subject to certain risks and uncertainties,
which could cause actual results to differ materially from those anticipated.
Although Kookmin Bank believes the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can give no
assurance that its expectations will be attained. Kookmin Bank undertakes no
obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Kookmin Bank
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(Registrant)
Date: November 1, 2002 By: /s/ Jong-Kyoo Yoon
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(Signature)
Name: Jong-Kyoo Yoon
Title: Executive Vice President &
Chief Financial Officer
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