News
Fifth-Generation Indemnity Health Insurance Launches Next Week
4+ hour, 33+ min ago (535+ words) Seoul Economic Daily With the launch of fifth-generation indemnity health insurance imminent, consumers are weighing their options. The new fifth-generation product offers significantly lower premiums than existing indemnity insurance but imposes higher out-of-pocket rates. Whether the switch pays off depends…...
Annual April Health Insurance Bill Shock Hits 10 Million Korean Workers
1+ week, 20+ hour ago (262+ words) Seoul Economic Daily The annual "health insurance premium settlement" controversy that recurs every April has hit 10 million Korean salaried workers again this year. Experts are increasingly calling for reform of what has been dubbed the "health insurance premium bomb" phenomenon....
i M Financial Succeeds in Blockchain Prepaid Payment Proof-of-Concept
1+ week, 5+ day ago (198+ words) A Case of Practical Commercialization Ahead of Legislation i M Financial Group announced on the 20th that its subsidiary i M Bank has become the first in Korea to successfully complete a proof-of-concept (Po C) for a blockchain-based prepaid payment service. The…...
Korean Airlines Raise Fuel Surcharges More Than Threefold Starting Today
1+ mon, 1+ day ago (269+ words) Fuel surcharges on airline tickets issued this month have surged more than threefold as international oil prices soar amid the Middle East war. The aviation industry said Thursday that April fuel surcharges jumped to level 18 out of 33 tiers, up from…...
April Paychecks May Shrink as Annual Health Insurance Premium Settlement Kicks In
1+ mon, 3+ day ago (301+ words) For salaried workers, April can be either a "cruel month" or a "bonus-like month." Take-home pay, typically deposited around the 25th of each month, can differ significantly from the usual amount. " "Why Did My Pay Drop?"" Health Insurance Settlement Changes April…...
Korea Pushes to Raise Cigarette Prices From 4, 500 Won to 10, 000 Won
1+ mon, 6+ day ago (266+ words) The South Korean government is pushing to raise cigarette prices from the current 4, 500 won to around 10, 000 won ($7) per pack by increasing the "health promotion levy" imposed on tobacco. The government has also officially decided to review imposing a new health…...
Hanwha Life's Protection Insurance Tops 50% of Premiums for First Time
1+ mon, 1+ week ago (441+ words) Hanwha Life Insurance (088350. KS) saw protection-type insurance exceed 50% of its gross written premiums for the first time last year. The milestone reflects the insurer's push to sell protection products " which carry more favorable contractual service margin (CSM) treatment " through its…...
Self-Employed Workers Face Worse Conditions Than COVID Era; Employment Insurance Rate Below 1%
1+ mon, 2+ week ago (227+ words) Current law allows self-employed individuals with no employees or fewer than 50 workers to enroll in employment insurance upon approval from the Korea Workers' Compensation and Welfare Service. However, low awareness of the program and burdensome application procedures have left many…...