HSBC considers closing South Korean retail business

HSBC Holdings is considering shuttering its South Korean retail operations, the Yonhap news agency reported, citing unidentified industry officials and regulators.

Europe’s largest lender by market value is reviewing options for the unit, Hyonjin Suh, a Seoul-based HSBC spokeswoman, said in an e-mailed response to questions, declining to elaborate. The review follows a collapse of takeover talks with KDB Financial Group in July.

via Business feed http://www.scmp.com/business/banking-finance/article/1093696/hsbc-considers-closing-south-korean-retail-business