South Korea’s
financial services industry,
in focus.

Hillhouse makes $682 mn last‑minute bid to compete with Hanwha, Heungkuk for IGIS Asset

The state-run Korea Development Bank (KDB) has suspended the protracted sale process of KDB Life Insurance Co. to take full control of the insurer before putting it back on the market at a higher valuation, according to people with knowledge of the mat.

JKL Partners, a Seoul-based private equity firm, is accelerating the sale of Lotte Insurance Co., lowering its valuation expectations and backing away from a dispute with financial authorities over a corrective order aimed at improving its financial health.

Nice is reportedly looking to sell the Actimise division for up to $2bn.

Habit Factory, a Seoul, South Korea-based AI-driven fintech company, has raised ₩35 billion in Series D funding.

Seoul-based fintech startup 276 Holdings, founded in 2019, has raised ₩2.9 billion (US$2.1 million) in Series A funding. Investors include Korea Investment Accelerator, HG Initiative, and Dunamis Asset Management.

Samsung Life Insurance is acquiring a minority stake in Hayfin Capital Management from Arctos Partners, in a bid to broaden the asset manager’s institutional investor base.

Heungkuk Life is also pursuing Igis aggressively under the direction of its largest shareholder, Taekwang Group.

Hanwha Life, South Korea’s first life insurance company, completed its acquisition of a 75% stake in Velocity Clearing, LLC, a U.S.-based global financial services firm, on July 30, 2025.

Samsung Fire & Marine Insurance (‘SFMI’) has entered into an agreement to purchase an additional 21% equity stake1, bringing their shareholding to 40%.