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[Alpha Biz=(Chicago) Reporter Paul Lee] Regarding the "Kyobo Life Insurance's acquisition of Kakao Pay Insurance," Kakao Pay, the largest shareholder of Kakao Pay Insurance, denied that it had never considered transferring management rights.
Regarding Kyobo Life Insurance's acquisition of Kakao Pay Insurance on the 8th, a Kyobo Life Insurance official said, "It is currently in the study stage and before the due diligence."
A Kakao Pay official also said, "Kakao Pay is discussing various ways to grow Kakao Pay Insurance, but has never considered transferring management rights."
On this day, a media outlet reported that Kyobo Life Insurance is conducting due diligence to acquire Kakao Pay Insurance.
According to the report, Kyobo Life Insurance reportedly consulted with Kakao, viewing the acquisition price of its 51% stake in Kakao Pay Insurance as between 60 billion won and 70 billion won.
Once the stake transfer contract is signed, the two sides are also expected to expand Kakao Pay's capital from the current 100 billion won to up to 400 billion won.
Regarding the report, an official at Kyobo Life Insurance explained, "It is true that we are currently looking at Kakao Pay Insurance, but this is in the same context as looking at AXA Insurance and MG Insurance."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
