by Kwon Haeyoung
Published 16 Apr.2026 16:10(KST)
The main bidding for the sale of Yebyeol Insurance, promoted by the Korea Deposit Insurance Corporation, has failed as only a single bidder participated, resulting in invalid competition.
On April 16, the Korea Deposit Insurance Corporation announced that it had closed the main bidding for the public sale of Yebyeol Insurance.
The main bidding was carried out among three companies that were selected as preliminary acquirers. However, only one company ultimately submitted a final acquisition proposal, so valid competition was not established and the process was declared unsuccessful.
The Korea Deposit Insurance Corporation stated that it will sound out the acquisition intentions of potential buyers, including the sole bidder, and if the possibility of a sale is confirmed, it will consider re-announcing the bid in accordance with the National Contract Act.
However, if it is determined that a sale is not possible, the corporation plans to halt the public sale and initiate the process of transferring contracts to five non-life insurers: Samsung Fire & Marine Insurance, Hyundai Marine & Fire Insurance, DB Insurance, KB Insurance, and Meritz Fire & Marine Insurance.
An official from the Korea Deposit Insurance Corporation stated, "Regardless of whether the public sale proceeds or not, all insurance contracts with Yebyeol Insurance will be protected without any changes in terms, and no disadvantages will occur to policyholders."
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