Korea Life Insurance Association Partners with Indonesian Life Insurance Association to Support Overseas Expansion

The Life Insurance Association of Korea announced on the 10th that it has signed a Memorandum of Understanding (MOU) for mutual information exchange and cooperation with the Indonesian Life Insurance Association (AAJI).

The Life Insurance Association planned this agreement to provide insurance companies with statistics and information related to the Indonesian insurance market and to support overseas expansion.

The Life Insurance Association of Korea and the Indonesian Life Insurance Association (AAJI) signed a Memorandum of Understanding (MOU) on the 10th at the Life Insurance Association in Jung-gu, Seoul. At the signing ceremony, Kim Cheol-ju, Chairman of the Life Insurance Association (left), and Budi Tampubolon, Chairman of AAJI, are taking a commemorative photo. Photo by Life Insurance Association

Through the agreement, both associations agreed to mutually cooperate in various areas, including ▲regular exchange of life insurance statistics ▲mutual education and training programs ▲production of public educational materials in Indonesia.

Kim Cheol-ju, President of the Life Insurance Association, said, "Indonesia is one of the most dynamic and high-growth potential markets in Southeast Asia," adding, "Through this agreement, we will practically support member companies' entry into and investment in Indonesia by exchanging information, personnel exchanges, and holding conferences between the life insurance industries of both countries."

Budi Tampubolon, President of AAJI, stated, "We are pleased to establish a foundation to advance the Indonesian market and promote investment through exchange and cooperation with the advanced Korean life insurance market."