Citigroup currently holds 99.98% of Citibank Korea, but roughly 2,823 minority shareholders remain, making the handling of their shares a prerequisite to be resolved first.
Citibank Korea, which in 1967 became the first foreign financial firm to enter the country, had total assets of 65.6 trillion won ($47 billion) as of the end of June. Because it stood as a leading example of financial cooperation between the two countries, some in the market have voiced regret over the development.
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