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Search results for Tongyang Life

Finance

Lim Jong-ryong buys 5,000 Woori Financial shares on market

Lim Jong-ryong (임종룡), chairman of Woori Financial Group, bought 5,000 shares of Woori Financial Group on the open market. The group said 56 executives, including heads of 16 subsidiaries and key officials at the holding company, bank and major units, also joined the share purchases. The buying came after Woori completed steps to make Tongyang Life a wholly owned subsidiary and formalised plans to pursue integration of Tongyang Life and ABL Life.

Finance

Financial groups\' M&A race heats up again as insurers are bought in succession

Mergers and acquisitions of insurers by South Korea’s financial groups are picking up again, with Korea Investment Financial Holdings securing preferred bidder status for KDB Life and OK Financial Group proceeding with steps to buy Yebyeol General Insurance. Kyobo Life is pursuing AXA General Insurance, while Shinhan Financial Group is again being mentioned as a possible buyer for Lotte Insurance, which is preparing for sale. Groups are seeking either new entry into insurance or reinforcement of weaker segments.

Finance

More financial firms to face margin rules for non-cleared OTC derivatives from September

South Korea\'s Financial Supervisory Service will extend its guidelines on the margin exchange system for non-cleared over-the-counter derivatives transactions. From September, the number of firms subject to initial margin requirements will rise to 143 from 138, while those covered by variation margin requirements will increase to 165 from 163. The guidelines will be extended for one year. The FSS said it will keep checking compliance and gather difficulties financial firms face.