Citigroup takes lessons learned in Korea to China card market

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00016500-citigroup-takes-lessons-learned-in-korea-/

Citigroup’s China chief, Richard Stanley, told Reutes on Sunday that the banking giant will be taking lessons learned in the South Korean credit card market to heart when dealing with the inevitable expansion of Citigroup?s card operations in China.

In the early part of this decade, credit card use in S. Korea exploded. But due to specific government incentives and rising rates, the country?s banks saw a rash of defaults beginning in 2003.

For this complete story, please visit Citigroup takes lessons learned in Korea to China card market.