South Korea

Authorities anticipate that this guideline will enhance business entities.

The mandatory English disclosures of significant information will be enforced for KOSPI-listed firms in two stages.

On the other hand, loans made from nonbanks fell to $2.2b.

AM Best foresees a notable reduction in KRE's underwriting risk in 2023 due to the planned portfolio restructuring, which aims to offload unprofitable business, especially in the domestic personal line. 

Slated to take effect on 19 July 2024, the proposed regulations aim to safeguard virtual asset users and establish a secure order in virtual asset transactions. 

The meeting was part of a series aimed at fostering close communication and mutual understanding between regulatory authorities and the financial industry.

The proposed changes aim to establish reasonable standards for the pricing of data transfer costs, ensuring a sustainable operational environment for MyData services.

The assessment mirrors Meritz's robust balance sheet strength,

The service comes with an annual fee of $30.

Higher premiums are forecasted for this service versus cyber marketing channels.

The reason was due to higher contributions required versus private insurers.

IFRS 17 adoption is seen to improve insight into margins and reserves, increase motivation for long-term profitability, and better global comparability for insurers.

This exceeded the initial supply plan of 66.7% by August and achieved 80.4% of the annual target.

Korean Re started reporting quarterly results based on IFRS 17 and IFRS 9. 

Non-nationals will qualify for health insurance if their stay is at least six months.

One of the driving factors is South Korea’s shrinking ageing population.