[New Year's Address]Kim Cheol-joo, Head of Korea Life Insurance Association, Vows to Strengthen Consumer Protection and Support Productive Finance
Korea Life Insurance Association Chairman Kim Cheol-joo pledges to strengthen consumer protection, support productive finance, and boost industry competitiveness through regulatory reform and innovation by 2026.
South Korea will allow industry associations to handle simple insurance complaints from 2026 and expand death benefit securitization products to all life insurers, while introducing new tax incentives and support measures for policyholders.
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From Next Year, Simple Insurance Complaints to Be Handled by Industry Associations—Death Benefit Securitization Expanded to All Life Insurers
South Korea will allow industry associations to handle simple insurance complaints from 2026 and expand death benefit securitization products to all life insurers, while introducing new tax incentives and support measures for policyholders.
South Korea’s life insurers are intensifying competition for exclusive product sales rights as the maximum protection period is extended, with Hanwha Life Insurance leading the sector by securing six exclusive rights this year, far outpacing its rivals.
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Life Insurers Intensify Year-End Race for Exclusive Sales Rights—Hanwha Life Leads the Pack
South Korea’s life insurers are intensifying competition for exclusive product sales rights as the maximum protection period is extended, with Hanwha Life Insurance leading the sector by securing six exclusive rights this year, far outpacing its rivals.
Financial Supervisory Service Receives Inquiry on Samsung Life’s Accounting Irregularities—Decision Expected as Early as This Month
South Korea’s Financial Supervisory Service is reviewing alleged accounting irregularities at Samsung Life Insurance, with a decision expected as early as this month following formal inquiries from industry bodies.
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