Households drive market demand, with household spending representing 59.2% of total demand in 2023. Samsung Life Insurance Co Ltd is the largest company in South Korea, generating 10.2% of the industry’s total turnover value in 2023. The industry is fragmented, with the top five companies generating 32.1% of total production value in 2023. The total number of companies increases in 2023, to 59,056 units. The costs of the industry increase by 4% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 24.6% of turnover in 2023, the ninth highest regionally. With turnover of USD48.3 billion, South Korea accounts for 9.0% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Insurance and Pension Funding in South Korea: ISIC 66. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Insurance and Pension Funding in South Korea: ISIC 66 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of insurance and pension funding, monetary intermediation.
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