List of Local Contacts
Network Partners
For quick access to our Network Partner Profiles use the links below.

our Network Partner in South Korea

Kyobo Life Insurance Co. Ltd.

Kyobo Life Insurance was established in 1958 to promote national education and form domestic capital in Korea. Kyobo ranked 15th among Asian life insurers in terms of assets as of March 31, 2003, with total assets of around W30 trillion, some 11 million policies in force and over 4,200 employees.

Over the past 45 years, Kyobo has contributed significantly to the development of the Korean as well as Asian insurance industries. The company created the world's first "educational insurance" plans, developed Korea's first cancer insurance policies, became the first domestic insurer to pay out policyholder dividends, won various awards in the world insurance industry, and was listed on the Fortune 500.

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typical benefit plan

South Korea – Standard Benefits
Term Life/PA
 
The coverage for group term life and PA is very different by the client's need. However, usually, they want to take the policy with 3 times of Annual Salary.
 
Inpaitient/Hospitalization & Surgical
 
In case of Room & Board cost is on the basis of  semi-private (2 persons) and
a hospital institution dose not have any semi-private room and the insured should choose private room or separate room, the life vendors covers up to 70,000 won per day of the difference between NHI standard room cost and the room the insured choose.
 
Outpatient/Clinical
 
In these days, all of the life vendors provide the out-patient cost with 5,000 won deduction up to 100,000 won per the visit. As for the out-patient riders, almost all of the life and Non-Life are not willing to sell any more due to the great deficit.
visit the KYOBO website
15F Dong-A Chungjeongno B/D, 139 Chungjeongno-3Ga, Seodaemun-Gu
 Seoul
South Korea
Local Contact:
Kevin Woo
+82 2 721 3672
kevinwoo@kyobo.co.kr
www.kyobo.co.kr
Insurope Local Website
 kr.insurope.com
Use this link to access a local country specific site on Insurope from a local market perspective. It may be helpful to refer this site to local subsidiaries and advisers as it also covers the mechanics of multinational pooling from a local perspective in the local language.
Minimum Lives criteria:
life: 5 lives, but can be less if growing - medical: 50 lives
Local Marketing Material
• Retirement Pensions (PDF 938Kb)
Local Services
• Insurope Local Service Standards - Primary Data - South Korea
(PDF 965Kb)