Samsung Life Insurance Partners with GA Korea for Consumer Protection

Samsung Life Insurance announced on October 1 that it had signed a Financial Consumer Protection Memorandum of Understanding (MOU) with GA Korea at its headquarters located in Seocho-gu, Seoul.

This agreement marks Samsung Life Insurance's second initiative for financial consumer protection, following its business agreement with Global Financial Sales at the end of July. Established in 2009, GA Korea is a corporate insurance agency (GA) with approximately 17,000 insurance planners.

This business agreement was prepared as both companies recognized the importance of financial consumer protection and aimed to establish internal control systems for both the insurer and the GA.

The signing ceremony was attended by Park Haegwan, Head of Strategic Sales Division at Samsung Life Insurance, and Byun Kwangsik, CEO of GA Korea, among others.

Going forward, Samsung Life Insurance and GA Korea plan to cooperate in various areas based on each company's non-financial strengths, including: internal controls and voluntary inspections to reduce risks related to entrusted and consigned work; complaint handling and preventive activities for financial consumer protection; and personal information protection and management. In addition, the two companies agreed to actively cooperate on any other work deemed necessary for financial consumer protection.

A Samsung Life Insurance representative stated, "Establishing a culture of financial consumer protection in the insurance sales field is our most important value," and added, "To this end, we will continue to cooperate with the GA industry in the future."

Samsung Life Insurance building located in Seocho-gu, Seoul. Samsung Life Insurance

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