Finance
Kyobo Life Insurance finalises SBI Savings Bank acquisition after FSC approves change in major shareholder
Kyobo Life Insurance has received financial regulators’ approval for its acquisition of SBI Savings Bank, after passing a major shareholder suitability review. The Financial Services Commission approved the agenda item on changing SBI Savings Bank’s major shareholder at a regular meeting on March 18. Kyobo Life decided in April last year to buy 50 percent plus one share from SBI Holdings for about 900 billion won.
