South Korea's national health insurance system is likely to move into deficit financing by the end of 2026.
AIA Life Korea has announced that Mr Nathan Chuang, CEO, has decided to leave the insurer to pursue other opportunities.
Kyobo Life Insurance has launched Kyobo Refill Health Whole Life Insurance (non-participating), a product that restores coverage limits for treatment of four major illnesses - cancer, brain disease, heart disease and dementia - every 20 years.
South Korea's life and non-life insurance industry has pledged KRW100m ($72,000) to support recovery efforts following heavy flooding in the southern cities of Geoje and Tongyeong.
Woori Financial Group has announced the merger of Tongyang Life Insurance and ABL Life Insurance into a single entity to be launched in the second half of 2027.
South Korea's insurance M&A market could regain momentum as several long-running sales processes move towards key stages, with KDB Life Insurance, Lotte Insurance, BNP Paribas Cardif Life and AXA Insurance among the companies attracting attention.
Hanwha Life Insurance is rolling out Microsoft's generative AI solution M365 Copilot across its workforce as it seeks to accelerate AI-driven operational transformation.
Kyobo Life Insurance is pursuing the acquisition of AXA General Insurance as it looks to expand into the non-life insurance sector and strengthen its broader financial portfolio.
South Korea's employment insurance system continued to add subscribers in July, but the gains were driven largely by older workers as participation among young people remained in decline.
Cyber risk management is under intense scrutiny in South Korea, following a historic sanction by the country's Personal Information Protection Commission (PIPC).