The Korea National Insurance Corporation is an

insurance company Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

owned by the

North Korean government In the North Korean government, the Cabinet is the administrative and executive body. The North Korean government consists of three branches: administrative, legislative, and judicial. However, they are not independent of each other, but al ...

, founded in 1947. It has about 210 branches throughout the country. While mainly carrying on as an insurance Company, The Korean National Insurance Corporation has also conducted other business activities, such as automotive repair, information technology service, and financial involvements.

Korean National Insurance Corporation's Executive Committee of Management

The Korean National Insurance Corporation's executive committee of Management is the Top Managing Body of the Korean National Insurance Corporation. Its job is to decide on Important Manners relating to the operation of the Korean National Insurance Corporation, Including a Business Strategy as well as Operational Philosophy and supervises their Implementation. The executive committee of Management is responsible for the general operation of the Korean National Insurance Corporation and composes of people working with the company for many years.

Controversies

It has been claimed it is a front to funnel money to the

North Korean nuclear weapons program North Korea has a military nuclear weapons program and, as of early 2020, is estimated to have an arsenal of approximately 30 to 40 nuclear weapons and sufficient production of fissile material for six to seven nuclear weapons per year.

References

External links

* Government-owned companies of North Korea Government-owned insurance companies Insurance companies of North Korea {{insurance-company-stub