News Life and Health04 Sep 2024

South Korea:Improper loans cloud Woori's proposed acquisitions of Dajia-related insurers

| 04 Sep 2024

Woori Financial Group (Woori FG) has signed a stock purchase agreement to acquire Tongyang Life Insurance and ABL Life Insurance for a total sum of KRW1.55tn ($1.15bn). Woori FG will acquire a 75.34% stake in Tongyang Life for KRW1.28tn and a 100% stake in ABL Life for KRW265.4bn.

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