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Woori to re-enter brokerage business with acquisition of Korea Foss Securities

Woori joins race to take over Lotte Insurance

Woori Financial joins bid for Lotte Insurance

Woori Financial Group has jumped into the bidding competition to acquire Lotte Insurance, industry sources said Thursday. Woori Financial is the only major domestic financial group that does not have an insurance affiliate, and the group has long outwardly spoken about its intention to strengthen its non-banking business through acquisitions.

Doctors go on strike in South Korea

The strikes are in response to government plans to rapidly increase the number of trainee doctors from 2025

Will M&A market for insurance companies revive this year?

Lotte Insurance, which will soon be officially put up for sale, is expected to gauge the market sentiment.

KDB Life fails to find new owner for fifth time as Hana withdraws

Hana Financial Group has announced its decision to withdraw from the acquisition of KDB Life Insurance. This marks the fifth time that the insurance subsidiary of the Korea Development Bank (KDB) has failed to secure a new owner.

Big insurers up for sale, but financial conglomerates appear disinterested

While major insurance firms are queued up for sale, financial holding companies are exercising caution in proceeding with acquisition deals. This contrasts with earlier market expectations that they would actively pursue acquisitions to expand their non-banking business portfolios.

Lotte heir Shin Yoo-yeol leads Japan-based Lotte Financial Corp.

Shin Yoo-yeol, vice president at Lotte Chemical and the eldest son of Lotte Group Chairman Shin Dong-bin, is extending his status as a third-generation successor of the conglomerate, as he was recently tapped to concurrently lead Japan-based Lotte Financial Corp., in addition to his current role at Lotte Chemical.

Hana, Woori expected to focus on M&As in 2nd half

Hana Financial Group and Woori Financial Group are anticipated to accelerate their respective bids to acquire non-banking businesses in the second half of the year as they both look to diversify their portfolios, according to industry sources, Tuesday.

Lotte Insurance launches Korea travel insurance for foreign tourists

Lotte Insurance has launched an insurance product for foreign tourists visiting Korea in partnership with Creatrip, a Seoul-based travel information platform. One key feature of the product is its simple and easy subscription service.