Shin & Kim

Insurance Department

South Korea
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Overview

The Insurance Practice Group offers in-depth advisory services on transactions involving domestic and overseas insurers as well as legal interpretation of insurance laws and representation in insurance-related disputes.  Currently, the Korean insurance market is the world’s seventh largest in insurance premiums. Many Korean insurers now have assets in amounts equal to those of other financial institutions such as banks. In pace with the global trend of expansion of insurers’ functions and roles to include those which were once considered to be performed exclusively by banks or brokerage houses, insurers in the Korean market are expected to expand the scope of their business and increase sales channels, and will be regulated in accordance with such changes. Such changes are forecast to increase the number of insurance products, which will be sold through a broader range of sales channels. The complexity of legal issues and disputes is also projected to increase due to the complexity of the market and anticipated changes to Korean laws including the Insurance Business Act. Shin & Kim delivers tailored and efficient legal services based on our in-depth understanding of insurance products and the insurance industry.

Members

Baek, Sang Mi

Baek, Sang-Mi

Baek, Seyon

Hong, Se Ryul

Jung, Chan-Mook

Kim, Jae Hwan

Kim, John Jungkyum

Seo, Chongsu

Yun, Jungok

Clients

AIA Life Insurance Co., Ltd.

AIG Korea Inc.

BNP Paribas Cardif Insurance

Carrot General Insurance Co., Ltd.

DB General Insurance Co., Ltd.

Fubon Hyundai Life Insurance Co., Ltd.

General Insurance Association of Korea

Hanwha Life Insurance Co., Ltd.

Heungkuk Life Insurance Co., Ltd.

Hyundai Marine & Fire Insurance Co. Ltd.

KB Insurance Co., Ltd.

KB Life Insurance Co., Ltd.

KDB Life Insurance

Korea Trade Insurance Corporation

Korean Re

Kyobo Life Insurance Co., Ltd.

Lotte Insurance Co., Ltd.

Meritz Fire & Marine Insurance Co., Ltd

NongHyup Life Insurance

Samsung Fire Insurance Co., Ltd

Samsung Life Insurance Co., Ltd.

Tongyang Life Insurance Co. Ltd.

Volkswagen Insurance Services Korea

Industries

Banks

Financial Services

Government

Insurance

Retail

Telecommunications

Articles, Highlights and Press Releases

Total 1 Articles, Highlights and Press Releases

FSC Releases Revised Insurance Supervision Regulations to Introduce Coinsurance for Insurance Compan

Michael Chang, Chan-Mook Jung, Sang Mi Baek, Heegun Jung

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