YOON&YANG
Yoon & Yang’s Insurance Practice Group provides first-rate legal services to leading insurance providers worldwide. Our Group provides legal services regarding interpretation of finance related laws, such as the Commercial Code, Insurance Business Act, and Financial Investment Services and Capital Markets Act, and legal advice on various forms of insurance transactions. We also have cooperative working relationship with government authorities and related agencies, such as insurance supervisory authorities and various insurance associations, and respond to rapidly changing conditions of the insurance business in a timely manner.

In addition to private insurances, we provide in-depth legal advice regarding various legal issues to quasi-insurances, such as post office deposit insurance and various mutual-aid projects.

Our Group has gained the confidence of our insurance business clients by frequently providing legal consultation and representing clients in disputes on issues, in particular those relating to compliance, insurance-related disputes, asset management and labor matters involving insurance planners.

Key Services

Legal advice on issues related to the Insurance Business Act, including establishment, merger and acquisition between insurance companies, transfer of insurance contracts, asset management, insurance subscription, and insurance products Legal advice on supervision and oversight of insurance companies by the insurance supervisory authorities Legal advice on interpretation of laws and decrees related to insurance such as the Insurance Business Act Legal advice on the development and sale of insurance products Legal advice and representation of clients on all forms of disputes arising between insurance companies and the insured Legal advice on M&As and IPOs of insurance companies Legal advice on reinsurance

Representative Cases

Advised D Fire Insurance Company on restructuring, asset management, and purchase of affiliated company shares
Represented L Life Insurance Company’s insurance telemarketers in claims for severance pay
Represented H Life Insurance Company in a claim for damages and injunction against obstruction of work, and filed a complaint to Korea Fair Trade Commission in relation to large-scale recruiting by its former branch managers
Represented and advised several foreign reinsurers in connection with Seoul Guarantee Insurance’s payment of performance bond to KORAIL in regard to KORAIL’s Yongsan Redevelopment Project
Advised L Life Insurance Company in regard to establishment of a subsidiary specialized in telemarketing
Advised L Life Insurance Company on acquisition of insurance agency as a subsidiary
Advised M Life Insurance Company, P Life Insurance Company, and R Reinsurance company on protection of customer information following the enactment of the Personal Information Protection Act
Advised H Life Insurance Company comprehensively in regard to corporate governance
Advised R Reinsurance Company comprehensively in regard to insurance regulations in Korea
Represented and advised D Insurance Broker in regard to claims for damages due to false disclosure