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Korean Reinsurance Company subject of KFTC investigation into abuse of market dominance

( August 1, 2016, 08:24 GMT | Insight) -- The Korea Fair Trade Commission has launched an investigation into Korean Reinsurance Company over alleged abuse of market dominance, Yonhap News reports.The Korea Fair Trade Commission has launched an investigation into Korean Reinsurance Company over alleged abuse of market dominance, Yonhap News reports. The move came in connection with a government tender for insurance for government-owned helicopters. All of the companies submitted the same insurance premiums. When insurance companies in South Korea find it hard to price insurance premiums, they usually follow the standard set by Korean Reinsurance, because it is the only reinsurance company in the nation, the report said. The KFTC requested documents from Korean Reinsurance and other insurance companies in relation to the investigation. Korean Reinsurance was established as a public enterprise in 1963, but was privatized in 1978. ...

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