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KB Financial Group submits bid for ING's South Korea business: report
July 16, 2012 / 6:33 AM / 5 years ago

KB Financial Group submits bid for ING's South Korea business: report

SEOUL (Reuters) - KB Financial Group Inc (105560.KS) submitted a main bid for ING Groep’s ING.AS South Korean insurance business, the 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)

Reporting By Joyce Lee; Editing by Alex Richardson

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