US-based Prudential Financial Inc. is putting its Korean life insurance operations up for sale as several foreign insurance companies are planning to leave the South Korean market due to its slow growth and poor profitability. Prudential Financial has tapped Goldman Sachs as lead underwriter of the sale of its Korean unit, which it fully owns through Prudential International Insurance Holdings, according to a report by Reuters. The sale could fetch about 2 trillion won ($1.7bn) and is expected to win the attention of major financial groups in Korea due to the financial soundness of P...
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