Goldman, Sachs & Co. has reached an agreement to buy a 17% stake in South Korea's Kookmin Bank for $500 million, the two institutions announced Monday.

The move, which makes Goldman the fourth major foreign investor in South Korea's banking system, is expected to give the New York-based investment bank entry to Korea's booming merger and acquisition arena and the purchase and sale of distressed Korean bank loans and other assets.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.