Mizuho Corporate Bank plans to sign separate accords with two major South Korean financial institutions later this month to tie up in investment banking, sources familiar with the matter said Sunday.
The two South Korean institutions are Shinhan Financial Group -- South Korea's second-largest financial group, which has Shinhan Bank as its nucleus -- and the South Korean government-affiliated Korea Development Bank.
Mizuho Corporate Bank, a core unit of Mizuho Financial Group Inc., is planning a capital participation in Shinhan Financial of about 10 billion yen, for an equity stake of less than 1 percent, the sources said. This will be the first full capital and business tie-up between major Japanese and South Korean financial institutions.
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