Korea's top financial regulator announced that regulatory revisions made to support the overseas expansion of Korean financial companies will be unveiled in July, during a conference organized by Financial Services Commission on Monday at the Korea Federation of Banks building in Seoul. The Financial Services Commission has announced that the regulatory changes will be made based on extensive discussions held du.
Korea s tax authority should offer more incentives for private pensions amid a rising poverty ratio amongst elderly people and a rapidly depleting national pension here, Korea Life Insurance Association (KLIA) Chairman Chung Hee-soo said in a press conference, Monday.
Insurance companies have set as this year s priority expanding their in-house digital-related units or seeking partnerships with fintech firms to increase their tech capabilities. This move is more salient among life insurance companies than their non-life peers, so as not to lag behind the more tech-savvy financial sector. KB Life, which started anew from January this year after consolidating its systems with Prudential Life, which the company acquired in 2020, said it has launched a new Digital Transformation (DT) headquarters.