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World InsuranceThe Evolution of a Global Risk Network$
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Peter Borscheid and Niels Viggo Haueter

Print publication date: 2012

Print ISBN-13: 9780199657964

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199657964.001.0001

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Korea: Insurance in a Tiger Market

Korea: Insurance in a Tiger Market

(p.522) Chapter 22 Korea: Insurance in a Tiger Market
World Insurance

Duol Kim

Myung Hwi Lee

Oxford University Press

This chapter examines the history of the Korean insurance industry. The Korean insurance market had become the tenth largest in the world by 2008, with insurance premiums amounting to approximately USD 90.6 billion. Considering the fact that even until the middle of the nineteenth century there was no modern concept of insurance, such growth is remarkable. The chapter shows how the Korean insurance market has achieved such a rapid expansion and suggests ways in which the insurance market will develop in the future.

Keywords:   Korean insurance industry, insurance history, insurance market

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