Hanwha Life Insurance Co., Ltd. (KOSE:A088350) signed a stock purchase agreement to acquire People Life Co., Ltd. from Fubon Hyundai Life Insurance Co., Ltd, Coston Asia and Hak-Jin Hyun on September 29, 2022. Coston Asia, a financial investor owns 32.2%, Hak-Jin Hyun, the founder and founder of Samsung Life Insurance, and related parties owns 62.9% and Fubon Hyundai Life Insurance owns 4.9% in People Life. People Life has sales of KRW 303.1 billion and operating profit of KRW 12.1 billion last year.
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- Hanwha Life Insurance Co., Ltd. acquired People Life Co., Ltd. from Fubon Hyundai Life Insurance Co., Ltd, Coston Asia and Hak-Jin Hyun.