Business Services Industry
KOREA'S WOORI FINANCIAL GP TO SIGN BANK DEAL WITH SAMSUNG, AIG.
AsiaPulse News, January, 2003
SEOUL, Jan 13 Asia Pulse - Woori Financial Group is expected to sign a bancassurance deal with Samsung Life Insurance and American International Group (AIG) this month, industry sources said Monday.
Sources citing ranking Woori managers said the partnership will mean a tie-up with Korea's leading insurance company, while placing itself in a position to sell foreign financial products.
Bancassurance refers to the merging of insurance business with retail finance and loans.
Besides this, Woori has expressed an interest in buying up a brokerage firm, with observers saying the company may take advantage of the restructuring effort in this field early this year. The financial group had inconclusive talks with Daewoo Securities Co. while no formal talks...
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