Daol Financial Group Sells Daol Credit Information

Daol Credit Information 100% Stake Sold for 13 Billion Won
Mason Capital and Lead Capital Management Acquire

[Asia Economy Reporter Park Hyungsoo] Daol Financial Group signed a final contract on the 4th for the sale of its subsidiary Daol Credit Information. Mason Capital and Lead Capital Management will acquire 100% of the shares of Daol Credit Information held by Daol Investment & Securities for 13 billion KRW.

Following the signing of the final contract, the procedures for the sale will be actively carried out. The plan is to complete the necessary procedures for the sale, including obtaining approval for the change of major shareholder from the Financial Services Commission, within the first half of this year.

Daol Financial Group decided to sell the credit information business to restructure its business portfolio. This is a measure to respond to the uncertain financial market and to continue stable business operations in the future.

Daol Credit Information is a credit information company established in 1999 as a subsidiary of the Korea Deposit Insurance Corporation. It conducts debt management and collection, credit investigation, and complaint agency services. It operates 15 business sites in the metropolitan area and provinces, maintaining a nationwide sales network, and holds the top industry record in recovering Korea Deposit Insurance Corporation (KDIC) and Korea Asset Management Corporation (KAMCO) debts.

A Daol Financial Group official said, "We are selling some affiliates as part of the group’s business restructuring," adding, "Through selection and concentration, we aim to promote stable growth of the group and discover new growth engines."