Korean JB Financial to buy two Kyrgyz financial firms for $13 million

South Korea's JB Financial Group, through its subsidiary JB Woori Capital, has agreed to acquire two Kyrgyz financial companies, Korki Credit and Korki Leasing. The deal is valued at 17.7 billion South Korean won, or roughly $13 million. The purchase is expected to be completed by the end of 2026.

According to Money Today, JB Woori Capital announced the agreement on October 22 with Epoche, the parent company of the two Kyrgyz firms. The deal covers the purchase of 100% of their shares. The parties still need approval from Kyrgyz financial regulators and must complete registration procedures.

Citing The Korea Times, JB Financial sees Kyrgyzstan as a platform for entering the Central Asian market. Auto lending, particularly financing for used car purchases, will be the main focus. Once the deal closes, Kyrgyzstan will become JB Financial's fifth overseas market. The group also operates in Cambodia, Myanmar, Vietnam and Indonesia.