Chapter

Korea: Insurance in a Tiger Market

Duol Kim and Myung Hwi Lee

in World Insurance

Published in print August 2012 | ISBN: 9780199657964
Published online September 2012 | e-ISBN: 9780191744709 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199657964.003.0022
Korea: Insurance in a Tiger Market

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This chapter examines the history of the Korean insurance industry. The Korean insurance market had become the tenth largest in the world by 2008, with insurance premiums amounting to approximately USD 90.6 billion. Considering the fact that even until the middle of the nineteenth century there was no modern concept of insurance, such growth is remarkable. The chapter shows how the Korean insurance market has achieved such a rapid expansion and suggests ways in which the insurance market will develop in the future.

Keywords: Korean insurance industry; insurance history; insurance market

Chapter.  6396 words. 

Subjects: International Business

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