ING Group To Sell Investment Management Business In South Korea - Quick Facts

(RTTNews) - ING Group (ING) announced an agreement to sell its investment management business in South Korea to Macquarie Group, an Australia-based, global provider of financial services. The transaction is part of the Group's process to divest its insurance and investment management businesses. ING Group does not expect the transaction to have a material impact on its results.

ING's investment management business in South Korea manages approximately 17 billion euros of assets as of 31 March 2013, primarily for local institutional clients including ING Life Korea.