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South Korea tag returned 214 results

  • New leader for reinsurer's life and health business in Korea

    Mr Kyungsuk Lee joined Munich Re Korea's leadership team on 15 July as part of a leadership transition following the retirement of current head of life and health Soobum Lee on 30 September this year. The former will be appointed the new head in due course and will report to Munich Re managing director, life and health for South-East Asia, South Asia, Korea and Japan, David Hughes.

    Asia | 15 Jul 2019
  • South Korea: IT giant enters insurance business with acquisition of insurance platform

    Kakao Pay, the FinTech division of IT giant Kakao, has acquired insurance platform start-up, Inbyu's shares and secured its management rights, reported The Korea Times. The acquisition is considered a strategic move for the FinTech to enter the insurance business as Inbyu will act as a general agency for Kakao Pay's insurance services.

    Asia | 12 Jul 2019
  • South Korea: Government to implement new insurance rules for foreign residents

    Foreign residents in South Korea who default on payments for mandatory state health insurance premiums will need to pay for all medical costs on their own, reported Yonhap News Agency citing a statement from the health ministry. Under changes made to the country's National Health Insurance Act, foreigners who have resided in the country for over six months are required to enrol in the state healthcare programme and pay monthly premiums from 16 July.

    Asia | 10 Jul 2019
  • South Korea: Next of kin to be alerted whenever senior citizens buy insurance

    With effect from October, senior citizens will receive twofold protection when they subscribe to insurance or other financial products, as it will become mandatory for service providers to notify a predesignated family member of the would-be elderly purchaser before confirming contracts.

    Asia | 10 Jul 2019
  • Korea: Second largest non-life insurer makes its mark on foreign markets

    DB Insurance is driving its entry into overseas markets by acquiring a number of foreign insurers, reported The Korea Times citing industry sources. The non-life insurer has already marked its presence in the US, Chinese, Guam and Vietnamese markets via a localisation strategy where the two main products it sells are car insurance and home fire insurance.

    Asia | 08 Jul 2019
  • Korea: Government promises improved health insurance system

    Korean president Moon Jae-in stressed that his administration would adhere to its planned state health insurance policy even though it has received criticism over funding, reported Yonhap News Agency.

    Asia | 05 Jul 2019
  • First personal accident insurance for e-scooter riders in Asia Pacific

    As the technology-driven mobility scene continues to develop in the Asia Pacific region, micro-mobility provider Beam has introduced the 'first' multi-market rider protection programme for the regional sharing services sector.

    Asia | 03 Jul 2019
  • South Korea: New rules capping insurers' debt issuance take effect on 1 July

    The Financial Services Commission (FSC) has announced an amendment to the Insurance Business Act introducing restrictions on Korean insurers' issuance of hybrid securities that take effect on 1 July 2019.

    Asia | 28 Jun 2019
  • South Korea: 1m foreigners join national health insurance scheme

    Foreign subscribers to South Korea's state health insurance programme numbered about 1m in 2018 as more foreigners stayed in the country.

    Asia | 14 Jun 2019
  • South Korea: Hanwha to launch the country's first digital non-life insurer

    Hanwha General Insurance will launch Korea's first digital non-life insurer, called Carrot, the company has announced.

    Asia | 07 Jun 2019


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