South Korean police have raided the Jaseng Hospital of Korean Medicine and its affiliated medical foundation over an alleged insurance fraud scheme.
The Financial Services Commission and the insurance industry have taken a decision to return over KRW10tn ($6.5bn) in hidden insurance benefits to policyholders or beneficiaries this year, reported the Chosun Daily.
Heungkuk Fire & Marine Insurance has decided to participate in the final round of bidding for Yebyul Insurance, with Korea Investment Holdings also expected to submit a bid, boosting prospects for the completion of the insurer's sale.
Competition, workplace safety accountability and financial pressures are shaping South Korea's risk agenda, according to findings from Aon's 2026 Global Risk Management Survey.
Kyobo Life has launched Kyobo All-Protected Jongshin Insurance, a product is designed to use 100% of the insurance premiums paid by customers as living funds after a certain period of time after payment of insurance premiums.
The South Korean government will cover premiums for high-payout liability insurance so that medical staff in essential fields do not bear excessive compensation burdens in the event of medical accidents, reported the ChosunBiz.
South Korean insurance regulator, The Financial Supervisory Service (FSS), has directed insurers to inform consumers about the changes to claim review standards and measures to strengthen internal controls in advance.
Doctors and advocacy groups in South Korea have slammed a proposal to extend national health insurance coverage to common hair-loss treatments.
Kyobo Life Insurance has introduced a health insurance product for people with pre-existing conditions that allows premiums to be designed reasonably according to a customer's health status. The product is notable for lowering the customer's burden by improving the uniform premium surcharge structure of existing insurance for people with pre-existing conditions.
South Korea's Employment Insurance Fund recorded its highest spending level since the height of the COVID-19 pandemic, with expenditures exceeding KRW20tn ($13.3bn) in 2025 amid rising unemployment benefit payments and enhanced childcare leave support.