Prudential Sale Heralds Sea Change In S. Korean Financial Sector

Standing alone, the announcement that Prudential is mulling the sale of its investment and fund management units in South Korea represents nothing more than a international firm shedding its non-core assets in the wake of an economic downturn. However, upon digging a little deeper, it seems the move by the US's second biggest life insurer is just the tip of the iceburg; lifting the lid on a glut of potential deals in the pipeline. It seems the South Korean financial sector is starting to resemble something of an auction house. In addition, the wave of companies competing for business opportunities before the economy fully recovers may well trigger a wave of consolidation in the Asian country's brokerage and asset management sectors.

To read the full article, please choose one of the following options: