Seoul Guarantee Insurance Establishes Representative Office in Indonesia... Enters ASEAN Guarantee Market

Seoul Guarantee Insurance announced on the 31st that it has completed the establishment of a representative office in Jakarta, Indonesia.

[Asia Economy Reporter Oh Hyung-gil] Seoul Guarantee Insurance announced on the 31st that it has completed the establishment of a representative office in Jakarta, Indonesia.

Seoul Guarantee completed the overseas office installation report to the Financial Supervisory Service at the end of April and received official approval for the establishment of the representative office from the Indonesian government last week.

Seoul Guarantee plans to start operating the representative office in August and aims to generate profits in the mid to long term by thoroughly investigating the local financial market in Indonesia and establishing a local corporation.

Since his inauguration in December last year, CEO Yoo Kwang-yeol of Seoul Guarantee has proposed 'G (Global), D (Digital), P (Partnership)' as a management strategy to secure new growth engines, emphasizing diversification of profits through entry into the New Southern Market as a global strategy. In January, he took office as chairman of the Asia Guarantee & Credit Insurance Association (AGCIA) and has been working to enter the ASEAN guarantee market.

Seoul Guarantee currently operates branches in Hanoi, Vietnam, and representative offices in New York, Beijing, and Dubai.

CEO Yoo Kwang-yeol of Seoul Guarantee stated, "We have established a foothold to export the domestic guarantee business model to the ASEAN market, which has high growth potential," adding, "As a global top-tier guarantee insurance company and chairman company of the Asia Guarantee & Credit Insurance Association (AGCIA), we will faithfully fulfill our role."

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