News Life and Health02 Apr 2020

South Korea:Regulator clarifies status of PE firm which controls life insurer

02 Apr 2020

The Financial Services Commission (FSC) has said that a private equity firm (PEF) that Korea Development Bank (KDB) set up in March 2010 with Consus Asset Management to acquire the life insurer is not subject to the Financial Holding Companies Act, which bans a PEF from owning a financial services firm for more than a decade.

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