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South Korea: KB Financial Group's attempt to buy LIG Insurance faces hurdles

August 8, 2014 - 6:00am


Speculation suggests that KB Financial Group Inc. may not be able to buy South Korea's LIG Insurance Co. Ltd. as KB's top executive may face severe punishment for not carrying out a business plan the firm made in the process of the KB Card spin-off, The Korea Herald reported.

"If negligence is proven, this can also lower the credibility of whether the company will properly implement its business plan on the acquisition of LIG Insurance," an official at the financial watchdog said.

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