Kookmin says to sell $263 mln stake in ING's unit

SEOUL, Dec 19 (Reuters) - Kookmin Bank, a key unit of South Korea's KB Financial Group (105560.KS), will sell its stake in ING Group's (ING.AS) (ING.N) South Korean unit for 339 billion won ($263.1 million) this month, the parent group said on Friday.

It did not say to whom the bank would sell the stake.

In November, Kookmin said it planned to sell back its 14.9 percent stake in ING Life Insurance Korea back to the Dutch group during the current quarter.

Last month Kookmin valued the stake at 350 billion.

($1=1288.6 Won)

(Reporting by Kim Yeon-hee; Editing by Keiron Henderson)