Shinhan Financial Negotiates Lotte General Insurance Price as Valuation Falls to 1 Trillion Won Ahead of August Auction

According to Maeil Business Newspaper, Shinhan Financial and JKL Partners are negotiating the acquisition price for Lotte General Insurance, with JKL lowering its asking price to 1 trillion Korean won as of late July. The deal could be finalized before an August public auction, though Shinhan's CFO indicated the company is also reviewing other insurance acquisition targets and requires time to find a compromise. Separately, Shinhan Financial approved the issuance of up to 400 billion won in subordinated bonds, which market analysts believe may be preparation for the Lotte General Insurance acquisition.
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