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South Korea's FSS Transfers 49% of Insurance Complaints to Insurers Associations Starting July

2026-07-05 03:16:36

According to the Financial Supervisory Service (FSS) announced on July 5, the FSS is transferring simple complaint handling to insurance associations starting this month, with insurance complaints accounting for 49% of total financial complaints last year (62,937 of 128,419 cases). The FSS will focus on dispute-related complaints to improve efficiency. Insurance complaints have required an average of 56.2 days to process. The FSS stated it aims to enhance consumer protection and establish a consumer-focused culture in the insurance industry.

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