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South Korea tag returned 221 results

  • South Korea: Several life insurers see 1H profits plummet

    Major local life insurers including Hanwha Life and Nonghyup Life saw their net profits for the first half of 2019 fall by more than 50% from the corresponding period a year earlier.

    Asia | 16 Aug 2019
  • South Korea: Regulator to change insurance policy terms

    The Financial Services Commission (FSC) has outlined a plan to revise insurance policies, a move which will lower insurance premiums and increase policy surrender payouts.

    Asia | 07 Aug 2019
  • South Korea: Number of foreigners who join national health insurance plan exceeds 1m

    The National Health Insurance Service (NHIS) said yesterday that 1.18m foreigners currently subscribe to the country's healthcare system.

    Asia | 29 Jul 2019
  • Korea makes health insurance mandatory for foreigners

    Foreign nationals who plan to stay in South Korea for more than six months will now find it mandatory to enrol in the country's health insurance programme, according to new rules set by the National Health Insurance Service (NHIS) on 16 July 2019.

    AIRPlus | 25 Jul 2019
  • South Korea: Major insurer prepares to enter healthcare sector

    Kyobo Life Insurance, among South Korea's top three life insurers, is gearing up to tap opportunities in the healthcare market after the authorities said earlier this month that insurers would be allowed to expand their businesses into the healthcare sector.

    Asia | 22 Jul 2019
  • South Korea: Regulator advises caution in buying non-KRW insurance products

    The Financial Supervisory Service (FSS) has warned consumers of the risks of foreign-currency denominated insurance products, including dollar insurance, which have been sold by foreign insurance companies such as MetLife, AIA and Prudential Life Insurance.

    Asia | 19 Jul 2019
  • South Korea: Insurers continue to issue bonds to raise capital

    South Korean insurers are continuing to issue corporate bonds to raise funds to prepare for higher capital requirements in preparation for the implementation of International Financial Reporting Standard (IFRS) 17.

    Asia | 18 Jul 2019
  • 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


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