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Life Health > Life Insurance

Institute: Sale Of Failed Financial Institutions Could Help Korean Economy

By Staff Writer

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NU Online News Service, July 11, 4:33 p.m. – Samsung Economic Research Institute, Seoul, a Korean think tank, says Korea’s economy can bounce back in the second half only if Korea Life Insurance Company and other large, insolvent financial institutions find international buyers.

Korea Life, which was nationalized in 2000 after it declared bankruptcy, has hired Merill Lynch & Company Inc., New York, to solicit bidders.

American International Group Inc., New York, is reportedly talking with creditors about acquiring Hyundai Investment Trust Management Company, a failed brokerage.

The report is available on the Samsung institute Web site, at http://seriecon.seri.org

Users must sign up through a free registration form before they can read the article. English excerpts will be available soon, according to Samsung.

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