Hanwha Life Insurance Vietnam at the Golden Dragon Award 2014 (Source :hanwhalife.com)
Hanoi, (VNA) – The Republic of Korea’s Hanwha Life Insu▨ranc♎e on November 5 said the company aims to become the fifth biggest insurers in Vietnam by 2020.
Hanwha Life Vietnam General Director Baek Kong-guk stressed that Vietnam’s economy has grown around 6 percent a year since 2009 when the company entered this promising market.
Insurance demand in the country has been on the rise although its annual gross domestic product (GDP) per capita stands at about 2,000 USD, he added.
After establishing a sales network across Vietnam in the past seven years, the company is seeking stable growth in both profit and market share in the country (about 8 percent).
A company’s spokesman said Hanwha Life has employed locals for most of its positions in Vietnam. Only three of the 238 employees are Korean.
The company has also pledged to increase social activities, such as building health care centres, kindergartens and houses for impoverished people in northern areas of Vietnam.
Founded in 1946, Hanwha Life Insurance is the oldest life insurance company in RoK. It has grown to be the country’s leading life insurer with total assets of 84 billion USD and an AAA solvency rating from prominent rating agencies.
In Vietnam, the company was honoured with Golden Dragon Award in the five consecutive years of 2010, 2011, 2012, 2013 and 2014 for the “Best financial services”. As of May 2015, Hanwha Life Insurance boasted more than 69,000 customers throughout Vietnam.-VNA
Forty-three of the country's forty-five insurance companies ensured financial safety in 2014, according to a report by the Ministry of Finance (MoF) reviewing insurance market restructuring over the past year.
Insurance shares continued driving the national market up, helping the VN Index approach the benchmark of 630 points on July 10. However, the index lost its growth during the last minutes as blue chips could not maintain their strong increases.
The Vietnam Children Sponsor Fund and the Bao Viet Life Insurance Corporation signed a cooperation agreement in Hanoi on June 16 to grant 1,200 bicycles to poor children to support them in pursuing education.
The capital of Hanoi is working to ensure at least 1,000 people in each communal-level administrative unit are covered by health insurance by November 30 this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Hanwha Life Insurance Vietnam at the Golden Dragon Award 2014 (Source :hanwhalife.com)
