Browsing: South Korea

The Financial Services Commission (FSC) is expanding the business scope for insurance companies, encouraging them to explore new markets and products to adapt to demographic shifts and technological advancements.

South Korean badminton star Ahn Se-young has captured the All England Open title, defeating Wang Zhi of China and further cementing her position at the top of the women’s singles rankings.

A new report highlights the expansion of the South Korean life and non-life insurance market, fueled by demographic shifts, technological advancements, and evolving consumer needs.

New system will allow those over 65 to use death insurance funds for pensions or medical care services, addressing the rise in single-person households.

Meritz Fire & Marine Insurance abandons acquisition of MG Insurance due to union resistance, putting 1.24 million policyholders at risk.

Meritz Financial Group terminated its acquisition of the financially struggling MG Non-Life Insurance, raising the prospect of liquidation.

Meritz Financial Group terminates its bid to acquire MG Non-Life Insurance, leading to potential liquidation of the financially struggling insurer.

An employee at KB Insurance has been reported to the police for embezzling 1.4 billion won through unauthorized transfers. The incident, discovered by a colleague, has prompted an internal investigation and a review of the company’s internal financial controls.

South Korean health insurance authorities are exploring ways to alleviate the burden of property insurance premiums on local subscribers, potentially through adjustments to how monthly rent is assessed.