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ABOUT US

Founded in 1947, Korea National Insurance Corporation has been operating Life and Non-Life insurance business activities in the Democratic People’s Republic of Korea for over 70 years till today

Foundation of the Corporation

Korea National Insurance Corporation was founded in July, 1947 and has been carrying out Life and Non-Life insurance business activities in the DPR Korea for over 70 years.

Mission

The Korea National Insurance Corporation takes it as its principal mission to stabilize and improve peoples’ living and to support social economic development through its insurance activities.

Structure

The Corporation head office has the operational departments dealing with Life and non-Life insurance operation, as well as insurance branch offices across the country.

Executive Committee of Management

Mr.Hong Myong Ryong, has been working with the Corporation since 1993 and directs the general operation of the Corporation as the ECM Chairman since 2014.

Hong Myong Ryong

ECM Chairman

Mr.Kim Yong Gwon, the ECM Deputy-Chairman, has been working with the Corporation since 1999 and directs the operation of non-insurance firms of the Corporation.

Kim Yong Gwon

ECM Chairman

Mr. Kim Chol Yong, an ECM member, has been working with the Corporation since 1999 and is in charge of Corporation’s financial accounting and auditing.

Kim Chol Yong

ECM Member

Mr. Yun Jin, an ECM member, has been working with the Corporation since 1994 and directs Corporation’s insurance business for Rason Economic Trade Zone, newly developed economic zones and foreign entity-invested enterprises.

Yun Jin

ECM Member

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Welcome to KNIC

We will always be with you as a kind and benign friend.

FINANCIALS

The consolidated financial statements of Corporation have been prepared in accordance with the requirements of Accounting Law and its relevant regulation of the DPRK and the accounting principles generally accepted in the country.

GWP 43 041
Net Worth 137 984
Net Profit 6 944
In KPW million

TYPICAL FIGURES

Following figures show the rapid development of insurance in our country. ( In KPW million )

18,763

GWP of Life Insurance

1,944

U/Results of Life Insurance

24,278

GWP of Non-Life Insurance

10,128

U/Results of Non-Life Insurance

CONTACT US

Address

Central District, Pyongyang DPR Korea