Faced with a rapidly aging population and ongoing low birthrate, Korea s non-life insurance sector is planning to create more plans tailored for older adults while strengthening coverages related to pregnancy and childbirth-related illnesses.
The Korea Life Insurance Association has tapped Kim Chul-ju, head of the Creditors' Coordination Committee, as its new chairman. An internal recommendation committee made the decision in a meeting held Friday. Kim, a graduate from the department of economics at Seoul National University, served as a public official at the Ministry of Economy and Finance. After working as an economist at the Asian Development Ban.
Thirty out of 74 major financial firms in Korea, each with assets exceeding 2 trillion won ($1.4 billion), do not have a single female member on their board, data showed Tuesday.
The Seoul Metropolitan Government said Thursday that it will provide up to 2 million won ($1,511) to 300 women who wish to freeze their eggs via cryopreservation from Sept. 1, as a part of the city government‘s measure to tackle the falling birth rate. All women of Korean nationality residing in Seoul who are of childbearing age between ages 20 and 49 are eligible to apply if they have resided in Seoul fo.