KB Financial Group submits bid for ING's S.Korea business-report

SEOUL, July 16 (Reuters) - KB Financial Group Inc submitted a main bid for ING Groep's South Korean insurance business, t he local Maeil Business Newspaper reported Monday.

ING Life Insurance Company Korea, ING's unlisted South Korean insurance unit, was worth 2 trillion won ($1.74 billion) in net assets as of end of March according to the firm's regulatory filing. ($1 = 1150.3000 Korean won) (Reporting By Joyce Lee; Editing by Alex Richardson)