Korean insurer gets licence

Wednesday, Aug 27, 2014 15:13

Representative office of the Ministry of Finance hands over license to the Seoul Guarantee Insurance Company. — VNS File Photo

HA NOI (Biz Hub) — The Ministry of Finance has issued a licence to Seoul Guarantee Insurance to open a branch in Ha Noi.

The South Korean company, established in 1969, set up a representative office in Viet Nam in 2007.

It has been providing guarantee services through reinsurance companies to South Korean companies and individuals in Viet Nam as well as local companies.

It had applied for the licence last year and will open the branch in October.

The company's chairman, Byung Ki Kim, said guarantee insurance is a good financial tool to address business risks and plays an important role in developing a economy. — VNS

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