Park Chang-yeong

1 week ago | pulse.mk.co.kr | Park Chang-yeong |Han Yubin

South Korean insurer Hanwha Life Insurance Co. (HLI) said on Tuesday that it would raise up to $1 billion via the issuance of overseas capital securities. The preemptive move aims to bring the new solvency capacity (K-ICS·Kicks) ratio to levels recommended by authorities. The insurer’s board approved the plan to issue $1 billion in unsecured, bond-type capital securities targeting global markets, including Europe, the United States, and Asia at a temporary board meeting.

1 week ago | pulse.mk.co.kr | Park Chang-yeong |Park Na-eun |Han Yubin

South Korea’s four major banks are rolling out emergency support measures for small and medium-sized enterprises (SMEs) as the prolonged economic downturn puts even promising companies at risk of financial distress. The move comes as the number of companies flagged as being at high risk of becoming distressed surged to 2,339 as of the end of 2024, or a 24 percent year-on-year increase, according to data from the banking sector.

2 weeks ago | pulse.mk.co.kr | Park Chang-yeong |Han Yubin

Interest in cyber insurance has surged in South Korea, following the recent SIM card information leak involving SK telecom Co.Insurance companies are responding rapidly by launching related products to help businesses mitigate risks. Hanwha General Insurance Co. announced on Tuesday that the number of cyber insurance policies signed between November 2024 and May 19, 2025, has doubled from the same period last year. It established a Cyber Risk Management Center in November.

2 weeks ago | pulse.mk.co.kr | Park Chang-yeong |Han Yubin

South Korea’s Hanwha General Insurance Co. outperformed major non-life insurers with a 14 percent surge in net profit in the first quarter. Industry analysts attribute this success to Hanwha’s strategic move to pioneer a new market with women-focused insurance products, despite growing competition making product differentiation increasingly channeling.

3 weeks ago | pulse.mk.co.kr | Park Chang-yeong |Kim Jung-hwan |Han Yubin

South Korea’s five leading non-life insurers will form a management council to jointly acquire assets owned by MG Non-Life Insurance Co.The five insurer are Samsung Fire & Marine Insurance Co., DB Insurance Co., Meritz Fire & Marine Insurance Co., Hyundai Marine & Fire Insurance Co., and KB Insurance Co.According to industry sources on Tuesday, the companies plan to establish a management committee by the end of May for the split acquisition.