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KB Insurance teams up with Cafe24 on e-commerce insurance

KB Insurance, a unit of KB Financial Group, said Wednesday that it has signed a memorandum of understanding with global e-commerce platform Cafe24 to provide comprehensive insurance services for e-commerce merchants.

The deal was signed by KB Insurance Chairman and CEO Yang Jong-hee and Cafe24 CEO Lee Jae-suk at the KB Insurance headquarters in Seoul. 


KB Insurance Chairman and CEO Yang Jong-hee (left) is photographed with Cafe24 CEO Lee Jae-suk after signing a memorandum of understanding at the KB Insurance headquarters in Seoul on Wednesday. (KB Insurance)
KB Insurance Chairman and CEO Yang Jong-hee (left) is photographed with Cafe24 CEO Lee Jae-suk after signing a memorandum of understanding at the KB Insurance headquarters in Seoul on Wednesday. (KB Insurance)

Through the newly formed partnership, both firms plan to roll out more insurance and financial services for e-commerce merchants, in cooperation with KB Financial Group.

“Through the partnership, we (KB Insurance) would like to be a strong business partner of Cafe24. Further, we expect expanded provision of full financial services from KB Financial Group,” Yang said.

By Jie Ye-eun (yeeun@heraldcorp.com)
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