On April 20th, the Financial Supervisory Commission (FSC) and Credit Lyonnais Securities Asia (CLSA), its financial advisor for the undertaking, commenced work relating to the sale of five Korean life insurance companies that were identified as needing recapitalization. The process is a part of the country's onging efforts to restructure its financial sectors.
An information memoranda is being prepared and will be sent out to potential global investors in a few weeks. The five life insurance companies involved are Dong Ah, Pacific, Handuk, Josun and Doowon.

* Please refer to the attache file for details.