Naver Establishes Insurance Service Corporation... Enters Insurance Market

Registered as a corporation under the name 'NF Boheom Service'

[Asia Economy Reporter Jin-gyu Lee] Naver is establishing an insurance service corporation and entering the insurance market.

According to the Supreme Court Internet Registry on the 9th, Naver completed the corporate registration under the name "NF Insurance Service" at the Suwon District Court Seongnam Branch on the 22nd of last month.

The corporate registration specifies the purpose of establishing NF Insurance Service as ▲insurance agency business and mail-order sales ▲telemarketing sales ▲software development and supply ▲call center and telemarketing services. The capital is 30 million KRW. The corporate office is located in the "Green Factory" building in Seongnam, Gyeonggi-do, where Naver's headquarters and Naver Financial are situated.

Naver Financial held a board meeting in March and resolved to establish a corporation named NF Insurance Service. Naver Financial stated, "As it is the initial stage of establishing the corporation, specific matters such as company composition including the CEO, launch timing, products to be sold, partner insurance companies, and sales methods have not yet been decided," adding, "We are considering partnerships with various insurance companies besides Mirae Asset Life Insurance."

Meanwhile, Naver is accelerating its financial market strategy, having launched the "Naver Bankbook" on the 8th of last month. Han Seong-sook, CEO of Naver, stated earlier this year, "Starting with the Naver Bankbook, we will enable users to access credit card recommendations, securities, insurance, and more through Naver Financial," and added, "We will launch financial services based on high-quality data and evolve into a comprehensive asset platform."