HONG KONG (Standard&Poor's) Oct. 31, 2008-- Standard&Poor's Ratings Services today removed from CreditWatch with negative implications its counterparty credit ratings on Kookmin Bank (Kookmin), Woori Bank (Woori), Shinhan Bank (Shinhan), Hana Bank (Hana), Korea Exchange Bank (KEB), Woori Finance Holdings Co. Ltd. (WFH), and Shinhan Card Co. Ltd. (see ratings list below). The move follows the Korean National Assembly's approval on Oct. 30 of the government of Korea's (local currency: A+/Stable/A-1; foreign currency: A/Stable/A-1) support package for Korean banks, plus a US$30 billion currency swap agreement between the Bank of Korea and the U.S. Federal Reserve. All the relevant debt issue ratings were also removed from CreditWatch, where they had been placed on Oct. 15. At
