Hanwha Asset Management Co. Ltd. announced that it expects to receive KRW 510 billion in funding from Hanwha Life Insurance Co., Ltd.
February 27, 2020
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Hanwha Asset Management Co. Ltd. announced that it will issue 102,000,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 510,000,000,000 on February 28, 2020. The transaction will involve participation from returning investor Hanwha Life Insurance Co., Ltd. (KOSE:A088350). Post completion of the transaction, the investor would have invested KRW 590,894,000,000. The transaction is expected to close on March 30, 2020. The transaction has been approved by the board of directors of the investor.
Hanwha Life Insurance Co Ltd is a Korea-based company engaged in life insurance business. The Company provides pure endowment, including annuity insurance, savings insurance, and juvenile insurance; insurance against death, including term insurance and whole life insurance; and mixed insurance including endowment insurance. Group insurance sells group endowment insurance, group annuity insurance, and group term life insurance for groups. The Company is also engaged in special account management. The Company operates its businesses in domestic and overseas markets such as Vietnam and Indonesia.
HANWHA LIFE INSURANCE CO., LTD. 
