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KDB Life Insurance working on new sale plan

KDB Life Insurance Co. Ltd. is working on a new plan to find a buyer after multiple failed attempts, The Korea Economic Daily reported.

Korea Development Bank, the parent of KDB Life Insurance, is committed to selling the unit within the year. The policy bank has invested over 1 trillion won in KDB Life Insurance, including 650 billion won it paid to acquire the life insurer in 2009.

As of Aug. 2, US$1 was equivalent to 1,203.98 South Korean won.