The race to acquire Korean units of Prudential Financial Inc . is expected to be a four - way competition involving KB Financial Group , the parent of the nation ` s largest commercial bank , industry watchers said yesterday . The other three companies mooted as potential bidders are Hanhwa Group , Lotte Group and London - based banking group HSBC . Prudential Financial , the second - largest U . S . life insurer , said Sunday it was " currently exploring options " with regard to its brokerage and asset management subsidiaries in Korea . " These options include a possible sale of either or both of Prudential Investments & Securities Co . , Ltd . and Prudential Asset Management Co . , Ltd . , which are headquartered in Seoul , " the U . S . firm said in a statement . " This does not affect Prudential ` s life insurance business in Korea - the Prudential Life Insurance Co , " it said . Prudential Investment plans to send out proposals to potential buyers soon , officials said yesterday . The looming sales are expected to ignite the M & A flame in the local brokerage sector , with industrial giants seeking out opportunities either to enter or strengthen their presence in the financial field . The country ` s major financial groups are already competing to complete a full business lineup across insurance and brokerage . Kang Chung - won , CEO of Kookmin Bank and acting chairman of KB Financial , said last month that he will aggressively pursue mergers and acquisitions to maximize the synergy effect under the financial holding company structure . The group has raised about 1 trillion won through a share offering , in preparation for an M & A . It acquired Hannuri Investment & Securities ( now KB Securities ) for 266 billion won in 2007 . Also emerging as possible bidders are Hanhwa Group , Lotte Group and London - based banking group HSBC . Hanwha , a commercial and petrochemical - focused conglomerate , has been seeking to bolster its existing brokerage business Hanhwa Securities , while retail specialist Lotte is mulling expansion into the brokerage market , building on its affiliates Lotte Card , Lotte Capital and Lotte Insurance . Prudential Financial bought the Korean securities and asset management units in 2004 from state - run Korea Deposit Insurance Corp . Prudential Investment posted an 11 billion won net loss in the year ended March 31 , compared with a 101 . 9 billion won profit the previous year . It owns 99 . 8 percent of the asset management firm . ( milaya @ heraldm . com ) By Lee Sun - young