Samsung Life Insurance and Ujeong Business Headquarters Establish 400 Billion Won Overseas Investment Fund
[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance announced on the 22nd that it has signed a Memorandum of Understanding (MOU) on asset management cooperation with the Ministry of Science and ICT and the Korea Post.
The two parties will establish a 400 billion KRW overseas joint investment fund to promote cooperation in overall asset management. This fund is expected to invest in high-quality overseas companies proposed by global asset managers over the next 10 years.
In addition, they will cooperate on overall asset management, including diversification of overseas alternative investment portfolios and improvement of asset management returns, and conduct broad collaboration in the insurance business, including insurance products and services, and risk management.
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A Samsung Life Insurance official said, "It is very meaningful to form a strategic partnership with Korea Post, a state-owned financial institution," and added, "We look forward to mutual cooperation in various fields for the development of the domestic insurance industry."
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