ING, the Netherlands-headquartered financial services group, which operates in Asia and other regions, said yesterday it has completed the sale of its investment management business in South Korea to Macquarie, the Australian bank.

ING, the Netherlands-headquartered financial services group,
which operates in Asia and other regions, said yesterday it has completed the
sale of its investment management business in South
Korea to Macquarie, the
Australian bank.

As previously announced on 10 July, the transaction does not
have a material impact on ING Group results, the firm said in a statement.

The firm has said the transaction is part of an earlier
announced process to divest its insurance and investment management businesses
in Asia. In July, Macquarie Group said the purchase
will make it the largest foreign asset manager in South Korea in terms of assets
under management.