K N I C

ABOUT US

Founded in 1947,Korea National Insurance Corporation is a recognized insurance organization which has been carrying out Life and Non-life insurance business activities in the DPR Korea for over 70 years till today.
The Corporation is headquartered in Pyongyang, a capital city of the DPRK and has about 10 provincial insurance branches and over 200 insurance branch offices at municipalities (districts) and counties across the country.
Its all business operation including insurance business has been carried out under the guidance and supervision of State Insurance Committee and strictly in compliance with the Insurance Law and insurance rules of the State.
In particular, in line with the global insurance development trend, it is continuing to carry forward actively the work to put the modernization and digitization of its insurance operation on a higher level.
The Corporation will make the greatest effort to achieve the constant development of insurance in the light of the protracted world health crisis and consistently push ahead with it, thereby discharging its mission and duty as the insurance organization.

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

Hong Myong Ryong

ECM Chairman

Mr.Hong Myong Ryong, the ECM Chairman, since 2014 supervises the general operation of the Corporation.

Mr.Ri Ryon, the ECM Deputy-Chairman, has been working with the Corporation since 1983 and directs the operation of non-insurance firms of the Corporation.

Ri Ryon

ECM Chairman

Ko Su Gil

ECM Member

Mr. Ko Su Gil, an ECM member, has been working with the Corporation since 1985 and is responsible for drawing up and implementing a business strategy and an operational philosophy of the Corporation.

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

Yun Jin

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.

NEWS

In 2021 too, the Corporation will further widen the range of its overall insurance business including the insurance products newly introduced in recent years to increase the companywide premium income and improve the qualitative aspect of insurance products and thus attain the annual net profit goal by insurance service activity. In addition, the Corporation plans to add and update the functions of insurance business program applications and further perfect the integrated insurance operation management system and electronic insurance service system for the improved scientific, accurate and prompt insurance service.

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 45 818

Net Worth 123 835

Net Profit 6 534

In KPW million