Samsung Life Insurance plans purchase of headquarters building

SEOUL, Dec. 13 (Yonhap) --Samsung Life Insurance Co., South Korea's largest life
insurer, plans to buy the Samsung Group's headquarters building in northern
Seoul, industry sources said Sunday.
Sources familiar with the matter said the insurer's board of directors will
decide Tuesday on whether to buy the headquarters building, currently owned by
core affiliate Samsung Electronics Co., for about 500 billion won (US$430
million).
The building, built in 1976, was originally owned by Samsung C&T Corp.
It was formerly home to Samsung Electronics, which has moved its headquarters to
the southern Seoul. It is now occupied by Samsung's financial arms -- Samsung
Card Co., Samsung Securities Co. and Samsung Life.
On Nov. 16, Samsung Life said it will list its shares on the Seoul main bourse in
the first half of 2010.
ygkim@yna.co.kr
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