After the success of its investment in Kookmin Bank, Goldman Sachs is ready to take the plunge into Korean financial services again by buying 24% of Korea's second biggest life insurer by assets, Kyobo Life. Market speculation suggests that Goldman will invest W300 billion $256.5 million to buy the stake, which is currently owned by Daewoo International.
A Daewoo official yesterday announced that Goldman's private investment arm will complete the acquisition within a month. Given that the parties have been talking for many months, the timing of this leak may not be a coincidence - especially if it is considered in the context of what is going on in the Korean life...
