DB Financial Investment Incorporated as a Wholly Owned Subsidiary of DB Asset Management

DB Financial Investment announced on the 21st that it will acquire an additional 44.67% (2.87 million shares) of its subsidiary DB Asset Management, making it a wholly owned subsidiary.

Earlier, DB Financial Investment had disclosed that it would participate as a substitute transferee in the sale transaction of the relevant shares, which was agreed upon in September between DB Insurance and the bank shareholder stock sale negotiation committee.

As of the end of September, DB Asset Management is the 8th largest comprehensive asset management company in the industry with approximately KRW 52 trillion in assets under management (AUM). The scale of this share acquisition amounts to KRW 37.5 billion, which is about 3.2% of DB Financial Investment's consolidated equity capital.

A DB Financial Investment official stated, "Through this share acquisition, we aim to strengthen the governance structure of DB Group's financial affiliates and enhance synergy effects such as providing customers with a variety of financial products." He added, "We expect the future growth of DB Asset Management to contribute to increasing the corporate value of its parent company, DB Financial Investment."