Insurance
Asia-Pacific Guide 2024 : South Korea
Band 1
Email address
[email protected]Contact number
+ 82 2 3703 1114About
Provided by Kim & Chang
As Korea’s most trusted insurance law advisors, the dedicated professionals of Kim & Chang’s Insurance Practice offer first-class service to insurers, reinsurers and insurance brokers. Our practice is particularly well-known for its expertise and experience in securing licenses for new insurance businesses, providing advice on regulatory audits, providing insurance regulatory advice, assisting with mergers & acquisitions in the insurance industry, providing support regarding insurance claims and handling insurance disputes.
Our Insurance Practice consists of lawyers, CPAs, certified tax accountants, actuaries and other experts, many of whom have accumulated their experience in leading legal and tax practices relating to insurance matters.
We offer a full range of services to our clients, many of whom require a “one-stop” service for advice or assistance on legal matters that insurance and reinsurance companies may encounter, such as issues regarding fin-tech, data privacy, asset management, competition law, labor and employment and tax matters. Moreover, we work closely with professionals from other Practices within our firm, including experts in banking, securities, and investment management, to provide effective solutions that address the diverse needs of our clients in Korea’s rapidly evolving financial market.
Chambers Review
Kim & Chang is a leading Korean law firm, highly respected for its extensive experience in insurance-related transactions. The firm often advises clients on insurance sector M&A as well as joint ventures and restructurings. It is also noteworthy for handling administrative lawsuits and disputes over policy interpretation, including cases brought by the Financial Supervisory Service (FSS). The team maintains longstanding relationships with a number of top Korean insurers. It also advises companies on insurance product development. Samsung Life Insurance, LINA Life Insurance Company of Korea and AIA Life Insurance are examples of its clientele.
Work Highlights
- Kim & Chang advised Taekwang Industrial on its acquisition of shares in Heungkuk Fire & Marine Insurance from Heungkuk Life Insurance.
Strengths
Provided by Chambers
"Kim & Chang's forte lies in handling complex and sophisticated matters, especially relating to industry-specific disputes."
"Kim & Chang is the most comprehensive firm in the country, addressing all types of issues in the insurance industry. The firm continues to represent many foreign and local clients in South Korea with a strong reputation."
"The insurance regulatory practice remains strong as it is led by senior attorneys who have remained in the team for over ten years, and is supported by former government officials."
"Kim & Chang's forte lies in handling complex and sophisticated matters, especially relating to industry-specific disputes."
"Kim & Chang is the most comprehensive firm in the country, addressing all types of issues in the insurance industry. The firm continues to represent many foreign and local clients in South Korea with a strong reputation."
"The insurance regulatory practice remains strong as it is led by senior attorneys who have remained in the team for over ten years, and is supported by former government officials."
Notable Practitioners
Jay Ahn heads Kim & Chang's insurance group in South Korea. His work remit spans advisory, regulatory and contentious insurance law matters. He remains a counsel of choice among domestic insurance and reinsurance companies.
Ranked Lawyers at
Kim & Chang
South Korea
