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Home > Company Index > Financial Services > Mortgage Banking & Related Services > NewState Holdings, Inc.

NewState Holdings, Inc.
OTC: NSTH
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 PROFILE
NewState Holdings (formerly Racom Systems) is the US holding company for NewState Capital, which sells and services residential real estate mortgages in South Korea. NewState Capital has about 10 offices in South Korea and also offers its mortgage products over the Internet. The company securitizes all of its loans, which are made primarily to middle-income individuals and families. NewState Capital has an agreement with Korea First Bank, one of Korea's largest banks, by which the company originates mortgages on behalf of the bank. NewState also owns a majority of World Asset Management, a South Korean mutual fund manager. Chairman and president Ernest Kim and his family own about 70% of the company.

 COMPETITION
Kookmin Bank (dossier)
Korea Exchange Bank (dossier)
Shinhan Bank (dossier)

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 FINANCIAL OVERVIEW
Fiscal Year-End: March
2000 Sales (mil.): 13.20
Employees: 84
Revenue per employee: $157,142.86

 KEY PEOPLE
• Ernest B. Kim
    CEO
• Alexander T. Shang
    CFO

 CONTACT INFO
156 W. 56th St.
New York, NY 10009
US
Phone: 212-245-5801
Fax: 212-245-8827
Online: Web Site

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