Korea National Insurance Corporation

Korea National Insurance Corporation
Native name
조선민족보험총회사
joseonminjockbohumchonghoesa
TypeInsurance Company
FoundedFounded in 1947 in Pyongyang, Democratic People's Republic of Korea
Websitehttp://www.knic.com.kp/?en

About the KNIC (Korean National Insurance Corporation)

The Korea National Insurance Corporation is an insurance company owned by the North Korean government, Since 1947 It Has been carrying out Life and Non-Life Insurance Business activities within the Democratic People's Republic of Korea. The Korean National Insurance Corporation is Headquartered in Pyongyang, North Korea, And has 10 provincial branches as well as 200 Insurance branch offices across the Democratic People's Republic of Korea.

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 Investment.

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.[1][2][3][4][5]

References
  1. Robert Booth. "UK freezes assets of North Korean company based in south London | UK news". The Guardian. Retrieved 2017-04-26.
  2. Fiona Simpson. "North Korea suspected of using house in leafy south-east London to fund nuclear weapons programme | London Evening Standard". Standard.co.uk. Retrieved 2017-04-26.
  3. "UK freezes assets of North Korean insurer in London | Insurance Business". Insurancebusinessmag.com. Retrieved 2017-04-26.
  4. Ben Webster; Richard Lloyd Parry. "Suburban house linked to Kim nuclear strategy | News | The Times & The Sunday Times". Thetimes.co.uk. Retrieved 2017-04-26.
  5. Samuel Osborne (2017-04-15). "North Korea suspected of using London home to fund nuclear weapons programme". The Independent. Retrieved 2017-04-26.


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