SEOUL, Aug. 13 (Yonhap) -- Korea Investment Holdings Co., a financial holding company in South Korea, said Thursday it has been named the preferred bidder for KDB Life Insurance, an affiliate of the state-run Korea Development Bank (KDB).
Three companies -- Korea Investment Holdings, Hanwha Life Insurance and Heungkuk Life Insurance -- had formally submitted their final bids for KDB Life Insurance last week.
Korea Investment Holdings, which has a brokerage and other financial units under its wing, has sought to expand its business portfolio into insurance.
Since 2014, KDB has attempted to sell the insurance unit.
Korea Investment Holdings and KDB were expected to discuss the specifics of the sale, according to officials at the financial holding firm.
(END)
- From 'BTS Boulevard' to U.S. governor's praise: BTS sweeps N. America on 'Arirang' tour
- BTS' V reveals hearing loss, Jungkook performs through shin injury on world tour
- TWICE's Jeongyeon leaves JYP to pursue acting career
- Gemini, BTS collaboration on display at Las Vegas Sphere
-
Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official
-
BTS' V reveals hearing loss, Jungkook performs through shin injury on world tour
- From 'BTS Boulevard' to U.S. governor's praise: BTS sweeps N. America on 'Arirang' tour
- TWICE's Jeongyeon leaves JYP to pursue acting career
- Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official
-
(LEAD) Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official
-
BTS' V reveals hearing loss, Jungkook performs through shin injury on world tour
- S. Korea vows to ease regulations to support 3 megaprojects
- (4th LD) N. Korea conducts another missile launch ahead of key S. Korea-U.S. military drills
- N. Korea again skips missile launch report
- (LEAD) N. Korea vows to secure 'unparalleled' retaliatory capability over S. Korea's nuclear submarine push