KB Insurance Signs Business Agreement with Law Firms Yulchon and HwaWoo to Support Serious Accident Punishment Act Compliance

KB Insurance Co., Ltd. (CEO Kim Ki-hwan) signed a business agreement (MOU) on the afternoon of the 23rd to support corporate responses to the Serious Accidents Punishment Act, with KB Insurance CEO Kim Ki-hwan (left), Hwawoo Law Firm Representative Lawyer Jung Jin-soo (right), and related executives in attendance. (Photo by KB Insurance)

[Asia Economy Reporter Changhwan Lee] KB Insurance announced on the 24th that it signed a Memorandum of Understanding (MOU) with the law firms Yulchon and HwaWoo on the 16th and 23rd at the KB Insurance headquarters building located in Yeoksam-dong, Gangnam-gu, Seoul, to support corporate clients in responding to the Serious Accidents Punishment Act.

The parties to the agreement agreed to provide consulting on overall corporate management and support companies' ESG (Environmental, Social, and Governance) management to prevent serious accidents in advance.

KB Insurance will provide the best insurance services to consulting clients of Yulchon and HwaWoo law firms. Yulchon and HwaWoo will provide comprehensive legal information and pre- and post-response measures to KB Financial Group’s corporate clients.

Kim Ki-hwan, CEO of KB Insurance, said, “Through this MOU between the two companies that are most actively responding to the Serious Accidents Punishment Act in the market, we hope to cooperate to help companies practice serious accident prevention and support corporate social responsibility management. Going forward, KB Insurance will continue to take the lead in responding to the Serious Accidents Punishment Act to help companies maintain stable business operations.”

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