SEOUL GUARANTEE ESTABLISHES BEIJING PRESENCE

Seoul Guarantee Insurance Company, the South Korean financial guarantee insurer, has set up a representative office in Beijing. The company will be targeting small and medium-sized enterprises as well as larger firms as it looks to accelerate its expansion in China. South Korea’s largest guarantee and credit insurer by market share, Seoul Guarantee Insurance Company was founded in 1969. It first announced its intention to establish a presence in China in March this year and received the go ahead from the China Insurance Regulatory Commission (CIRC) in mid-April.