Daeshin Life Is on the Block
The sale of Daeshin Life Insurance, designated by the government as an insolvent financial institute, will begin this week."The Korea Deposit Insurance Corporation will officially announce the sale of Daeshin Life early this week," a Financial Supervisory Commission official said Sunday.
"Although the situation in the life insurance market is not at its best, the selloff of Daeshin Life will be attractive because the firm holds the second largest stake in Daeshin Securities, 7.4 percent," the official added.
The chairman of Daeshin Securities, Yang Hye-moon, holds 8.2 percent of the brokerage.
with the Korea JoongAng Daily
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