Shinhan Financial to buy ING's ex-South Korean unit for $2.1b

Shinhan Financial to buy ING's ex-South Korean unit for $2.1b

South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul, South Korea, December 15, 2015. REUTERS/Kim Hong-Ji

South Korea’s Shinhan Financial Group said on Wednesday that it has decided to buy a 59.15 per cent stake in Orange Life Insurance, a former unit of ING Group  for 2.2989 trillion won (£1.60 billion).

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter