KDIC Sells 4.3% Stake in Seoul Guarantee Insurance

The Korea Deposit Insurance Corporation (KDIC) has recovered an additional 161 billion won in public funds by selling a 4.3% stake in Seoul Guarantee Insurance through a block sale (off-hours block trading). As a result, the cumulative recovery rate of public funds injected into Seoul Guarantee Insurance has increased from 50.3% to 51.9%, up by 1.6 percentage points.

On March 26, prior to the opening of the stock market, the KDIC announced that it sold 4.3% of its stake in Seoul Guarantee Insurance, amounting to 3 million shares, through an off-hours block sale. Through this sale, KDIC recovered 161 billion won in public funds. Accordingly, the total amount recovered has increased to 5.3193 trillion won out of the principal of 10.25 trillion won provided to Seoul Guarantee Insurance.

Long-only funds with long-term investment objectives actively participated in this transaction. As a major shareholder, the KDIC explained that it is actively supporting Seoul Guarantee Insurance in faithfully implementing its shareholder return policy and management efficiency measures, as promised to investors, in order to enhance corporate value. The timing and method of selling the remaining stake will be decided in consideration of future market conditions. The KDIC also stated that it will review the matter further through discussions with the Public Fund Oversight Committee, aiming to minimize any impact on the share price.

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