Daehan seeks consultant for fund management endgame

Korea''s big, troubled fund groups must spruce up before the government tries to sell them to foreigners.

Daehan Investment Trust Securities is said to be about to issue requests for proposals from a variety of consulting firms to help it clean up its organization, given the increasingly likelihood that the Korean government will attempt to sell it or its fund management affiliate.

Daehan ITS and its funds arm, Daehan Investment Trust Management Company Daehan ITMC, is one of three of Korea's big 'problem' funds organizations. Hyundai ITS has been the subject of sales negotiations with Prudential Assurance, the number-two life insurance company in the United States. Korea ITS now called Hankook, the third problem company, is expected to follow Daehan's lead.

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