Samsung Life Insurance and Youngjin Asset Join Forces to Protect Financial Consumers

Samsung Life Insurance will continue its collaboration with corporate insurance agencies (GAs) to protect financial consumers.

On the 22nd, Samsung Life Insurance announced that it had signed a financial consumer protection business agreement (MOU) with Youngjin Asset at Lotte Hotel Busan. In July, Samsung Life Insurance signed an agreement with Global Financial Sales to promote a culture of financial consumer protection, and on the 1st of this month, it also signed a business agreement with GA Korea.

At the signing ceremony of the financial consumer protection business agreement (MOU) between Samsung Life Insurance and Youngjin Asset held at Lotte Hotel Busan on the 21st, Jung Seokyoung, CEO of Youngjin Asset (fifth from the left), and Park Haegwan, Head of Strategic Sales Division at Samsung Life Insurance (sixth from the left), are taking a commemorative photo with the attendees. Photo by Samsung Life Insurance

This business agreement was established as both companies recognized the importance of financial consumer protection and agreed to cooperate on activities related to financial consumer protection and strengthening internal controls within GAs. Founded in 2005, Youngjin Asset is a GA with approximately 3,500 agents actively working nationwide, mainly based in the Busan area.

The signing ceremony was attended by Park Haegwan, Head of Strategic Sales Division at Samsung Life Insurance, Jung Seokyoung, CEO of Youngjin Asset, and other officials.

Through this business agreement, Samsung Life Insurance and Youngjin Asset will cooperate on internal controls and self-inspection work to reduce risks related to entrusted and consigned work, complaint handling and prevention activities for financial consumer protection, and personal information protection and management. The two companies also agreed to actively cooperate on any other initiatives deemed necessary for financial consumer protection.

A representative from Samsung Life Insurance stated, "We hope that our win-win cooperation with GAs will greatly contribute to spreading a culture of financial consumer protection," adding, "We will continue to sign business agreements with GAs and work together to address the needs of financial consumers."

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