SEOUL, Sept. 19 (Korea Bizwire) – A financial consumer organization warned more caution when dealing with foreign life insurance companies as they committed more financial frauds than Korean counterparts. According to the Korea Finance Consumer Federation (KFCF)’s analysis on the status of financial frauds including misappropriation of 24 life insurers for the past three years, [...]
SEOUL, July 25 (Korea Bizwire) – Financial regulators ordered ING Life to pay full death benefits to the families of suicide victims. The Financial Supervisory Service on July 24 held a deliberation committee meeting and decided to penalize the life insurance company for not paying a proper amount of insurance money, with a corresponding order to redress. According [...]
SEOUL, June 4 (Korea Bizwire) - The bank with the highest number of complaints per every 100,000 customers was Citibank Korea last year. Among credit card companies, it was Hana-SK Card. As for the life insurance and property & casualty insurance industry, it was Woori Aviva Life and MG General Insurance. Tongyang Securities and Union Savings Bank [...]