Most Popular
-
1
1 in 3 Koreans live alone, family types becoming diverse
-
2
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
3
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
4
Contentious grain bill put directly to plenary meeting for vote
-
5
Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
![[Today’s K-pop] BTS pop-up event to come to Seoul](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/17/20240417050734_0.jpg&u=)
[WOORI PRIVATIZATION] Kyobo Life not to bid for Woori Bank stake
By 김지현Published : Sept. 22, 2016 - 19:18
[THE INVESTOR] Kyobo Life, the nation’s second-largest life insurer in terms of assets, has decided against bidding for a stake in Woori Bank.
The insurer said on Sept.22 – a day ahead of the deadline for submitting a letter of intent – that, it has decided not to place a bid.
Kyobo said the decision was based on the assessment that a stake acquisition may negatively impact the insurer’s asset portfolio.
State-run Korea Deposit Insurance Corp. said in August that it would sell 30 percent of its 51 percent stake in Woori Bank to pursue its privatization.
The stake is to be sold into parts amounting between 4 to 6 percent.
By Kim Ji-hyun (jemmie@heraldcorp.com)
The insurer said on Sept.22 – a day ahead of the deadline for submitting a letter of intent – that, it has decided not to place a bid.
Kyobo said the decision was based on the assessment that a stake acquisition may negatively impact the insurer’s asset portfolio.
State-run Korea Deposit Insurance Corp. said in August that it would sell 30 percent of its 51 percent stake in Woori Bank to pursue its privatization.
The stake is to be sold into parts amounting between 4 to 6 percent.
By Kim Ji-hyun (jemmie@heraldcorp.com)
![[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/18/20240418050645_0.jpg&u=20240419100350)
