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Samsung Fire & Marine to inject 90B won into US subsidiary

Samsung Fire & Marine Insurance Co. Ltd. plans to inject 90 billion won into its U.S. subsidiary by the end of the year, the Maeil Business Newspaper reported Dec. 8, citing insurance industry sources.

The capital injection will raise the capital of subsidiary Samsung Fire & Marine Insurance Co. Ltd. (U.S. Branch) to 140 billion won.

As of Dec. 9, US$1 was equivalent to 1,173.14 South Korean won.