Most Popular
-
1
Industry experts predicts tough choices as NewJeans' ultimatum nears
-
2
Jung's paternity reveal exposes where Korea stands on extramarital babies
-
3
Seoul city opens emergency care centers
-
4
Opposition chief acquitted of instigating perjury
-
5
Samsung entangled in legal risks amid calls for drastic reform
-
6
[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'
![[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/26/20241126050017_0.jpg&u=20241126161719)
-
7
[Exclusive] Hyundai Mobis eyes closer ties with BYD
![[Exclusive] Hyundai Mobis eyes closer ties with BYD](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/25/20241125050044_0.jpg&u=)
-
8
Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
-
9
[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance
![[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/25/20241125050072_0.jpg&u=)
-
10
Why S. Korean refiners are reluctant to import US oil despite Trump’s energy push
![[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/26/20241126050017_0.jpg&u=20241126161719)
![[Exclusive] Hyundai Mobis eyes closer ties with BYD](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/25/20241125050044_0.jpg&u=)
![[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/25/20241125050072_0.jpg&u=)
South Korea's state financial watchdog said Friday it will tighten the monitoring of unfair or deceptive insurance sale activities in the local market.
The Financial Supervisory Service (FSS) plans to crack down especially on insurance sales agencies involved in irregularities.
The ratio of insurance sales in South Korea via independent sales agencies climbed to 37.8 percent in the first half of this year from 34.3 percent in 2014 and 35.9 percent in 2015, according to its data.
Concern has grown about reports of unfair and incomplete sales practices amid heated competition among agencies and salespersons.
The FSS said it will expand the standing monitoring system against the problem.
It plans to introduce an ombudsman council for the industry and additional indicators of malpractices.
"We will conduct a thorough inspection and impose heavy punishments if illegal and unfair activities are found," Jung Je-yong, an FSS official, said.
A total of 4,530 insurance sales agencies were registered with the FSS as of end-September. (Yonhap)
The Financial Supervisory Service (FSS) plans to crack down especially on insurance sales agencies involved in irregularities.
The ratio of insurance sales in South Korea via independent sales agencies climbed to 37.8 percent in the first half of this year from 34.3 percent in 2014 and 35.9 percent in 2015, according to its data.
Concern has grown about reports of unfair and incomplete sales practices amid heated competition among agencies and salespersons.
The FSS said it will expand the standing monitoring system against the problem.
It plans to introduce an ombudsman council for the industry and additional indicators of malpractices.
"We will conduct a thorough inspection and impose heavy punishments if illegal and unfair activities are found," Jung Je-yong, an FSS official, said.
A total of 4,530 insurance sales agencies were registered with the FSS as of end-September. (Yonhap)
