Kyobo Life Insurance Donates COVID-19 Rapid Test Kits to Myanmar

"Promoting Joint Venture Establishment with Local Myanmar Partner This Year"

Kyobo Life Insurance donated rapid diagnostic kits sufficient for 5,000 people to help Myanmar overcome COVID-19. At the handover ceremony for the COVID-19 diagnostic kits held on the 6th in Yangon, the capital of Myanmar, Kim Jin-su, Minister Counselor of the Embassy of the Republic of Korea in Myanmar; Yoon Song-cheol, Head of Kyobo Life Insurance's Yangon Office; Ham Jeong-han, Charg? d'Affaires of the Embassy of the Republic of Korea in Myanmar; and Jo Tan-tun, Director of the Medical Research Institute of the Ministry of Health and Sports of Myanmar (from left) posed for a commemorative photo.

[Asia Economy Reporter Oh Hyung-gil] Kyobo Life Insurance announced on the 13th that it donated rapid diagnostic kits for COVID-19 sufficient for 5,000 people to the Ministry of Health and Sports of Myanmar.

Kyobo Life Insurance has been conducting social contribution activities in Myanmar for several years and explained that this donation was made from a humanitarian perspective to help overcome COVID-19. Since building and donating an elementary school building in the Tawkkyaung village on the outskirts of Yangon in 2017, Kyobo Life Insurance has continuously paid attention to improving Myanmar's educational environment by supporting school buildings, desks and chairs, and books annually in the Mingaladon area and Lei Duangkan village.

Although the daily new confirmed COVID-19 cases in Myanmar have recently slowed to fewer than 1,000, the cumulative confirmed cases are about 130,000, ranking third in Southeast Asia after Indonesia and the Philippines.

Yoon Song-cheol, head of Kyobo Life Insurance's Yangon office, said, "Based on the deep friendship between Kyobo Life Insurance and Myanmar that has continued across borders since 2017, we prepared this donation to contribute even a small help," adding, "We hope this will lead to an improvement in Myanmar's COVID-19 diagnostic capabilities."

Meanwhile, Kyobo Life Insurance obtained approval to establish a representative office from Myanmar's financial authorities in September last year, completed registration procedures with the local investment enterprise management bureau in November, and opened the Yangon representative office on the 4th of this month. It is the only domestic life insurance company that has entered Myanmar.

A Kyobo Life Insurance official said, "This year, we will promote the establishment of a joint venture (JV) with a local partner in Myanmar," adding, "We will explore various ways to enter several rapidly growing Southeast Asian countries with large young populations, starting with Myanmar."

This content was produced with the assistance of AI translation services.