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Crisis Looms In Korean Life Insurance Industry

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NU Online News Service, Nov. 7, 12:12 p.m. – Hankook Ilbo, a Korean daily, has raised concerns that four to six of Korea’s 20 life insurance companies may become insolvent next year.

The Korean life insurance industry is under increasing pressure due to a combination of reasons, including low interest rates and the slowing economy, according to Hankook.

The government plans to consolidate the industry through mergers, acquisitions and other measures, according to Hankook, citing anonymous sources.

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