Chairman, Financial Services Commission Kwang-woo Jun of Korea, South

Would you get married just after one or two blind dates?"Jun said cross-border acquisitions of foreign companies by South Korean entities should be led by players in the private sector, while state-owned companies such as KDB should take a "cheerleader role.

Jun said the FSC began its review of HSBC's revised application to buy a controlling 51.

A spokesperson for the regulator denied that report, saying Jun had never made any such declaration.

Chairman Jun said that the FSC will adopt a European method of examining and supervising each non-banking business on its qualifications to own banks.

Jun Kwang Woo, chairman of South Korea#039;s Financial Supervisory Commission, talked with Bloomberg#039;s Bernard Lo from Seoul yest.

acquisition of a stake in Lehman Brothers.

to pull out from its talks with Lehman.

Jun said that the regulator has been reviewing documentation submitted regarding the deal since Aug 11 and would be requesting more.

Jun said the government recognises KDB's independence and cannot order it to terminate talks with Lehman.

Jun said it would be better for private lenders to play a leading role in pushing to take over a global investment bank, expressing the watchdog's negative stance toward the KDB's possible deal with Lehman.

3 billion deal to buy Korea Exchange Bank, Jun said the FSC has started to review the deal, but it will be difficult to predict how this issue will be unraveled.