Korean military pension to invest in Lehman Brothers?

Lehman Brothers has got some kind of Korean connection at work. We've noted that the Korea Development Bank's Min Euoo-sung was CEO of Lehman Brothers' South Korean operations until taking the helm of KDB earlier this year. He seems to favor the consortium approach, which may have encouraged the South Korean Military Mutual Aid Association, a military pension fund, to get involved. It says it would consider a joint investment. In the past, it was seen as a fund that voiced misgivings about foreign companies buying Korean companies, reports the Financial Times. But transactions in the other direction are a different matter. Fuld seems to have cast a wide net in Asia. But a deal doesn't really seem imminent. The clock is ticking. If the bank cannot announce a capital event along with its big writedown this month, it will not go over well.

For more:
- here's the Financial Times article

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