SEOUL (Bloomberg) — Korea Asset Management Corp. will sell its stakes in companies including Daewoo Shipbuilding & Marine Engineering Co. by 2012.

Korea Asset, also known as Kamco, will also sell its holdings in Daewoo International Corp., Daewoo Electronics Corp. and Ssangyong Engineering & Construction Co. The state-run agency announced its plans in a briefing to lawmakers, according to an e-mailed statement.