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Daewoo International Corp. (KSE:047050), a South Korean trading firm, said Friday that it is considering selling its stake in a local life insurer.

In a regulatory filing, the firm, taken over last year by the country’s leading steelmaker, POSCO (KSE:005490), said it will select advisers for selling or securitizing the 24 per cent stake in Kyobo life insurance Co., the nation’s third-largest life insurer.

Daewoo International’s business line ranges from trading to overseas energy development.

Daewoo International has been developing gas fields off the coast of Myanmar and plans to explore a nickel mine in Madagascar. The company has been exploring nickel, copper and uranium mines in Australia and Bolivia.

Shares of Daewoo International closed at 39,450 won on the Seoul bourse, up 0.64 per cent.