Hanwha sees $580 mln from insurance arm stake sale

SEOUL, Oct 10 (Reuters) - Two main units of South Korea's Hanwha Group said on Friday they will sell shares in an unlisted insurance unit for about 807 billion won ($580.4 million) to fund the group's bidding for Daewoo Shipbuilding (042660.KS).

Hanwha (000880.KS), a de-facto holding firm of the business group, and Hanwha Chemical (009830.KS) said in separate disclosures to the Korea Exchange that they expected to sell 80.7 million shares in Korea Life Insurance at 10,000 won apiece. ($1=1390.3 Won)

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