KB Financial Group submits bid for ING’s S.Korea business-report

SEOUL, July 16: KB Financial Group Inc submitted a main bid for ING Groep’s South Korean insurance business, t he local Maeil Business Newspaper reported Monday.
ING Life Insurance Company Korea, ING’s unlisted South Korean insurance unit, was worth 2 trillion won ($1.74 billion) in net assets as of end of March according to the firm’s regulatory filing. ($1 = 1150.3000 Korean won) (agencies)

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