Chartis announced that it “applauded the recent announcement by President Obama that U.S. and Korean negotiators have resolved outstanding issues related to the U.S.-Korea Free Trade Agreement (FTA).”
The bulletin noted that the agreement, when it has been approved, “represents an important milestone that will strengthen economic and commercial ties between two countries that remain significant trading partners.”
President and CEO Kristian P. Moor commented: “The agreement reflects the firm commitment by both the U.S. and Korean governments to expand their long-standing relationship, with enhanced benefits in particular for American businesses and Korean consumers. Chartis, as the first foreign insurance company established in Korea in 1954, looks forward to continued opportunities to support our Korean customers, to whom we currently provide over 1.5 million policies.”
Chartis has maintained a presence in Korea for over 55 years, and services the Korean market with over 400 in-country professionals who provide specialized insurance solutions, including overseas travel insurance, risk management and homeowners products and services.