Hungkuk Life & Fire Joins SOHO Bank Alliance

A New Horizon for Small Business Finance: Heungkuk Life Insurance and Heungkuk Fire & Marine Insurance Join Korea SOHO Bank Consortium, Boosting Comprehensive Services Great anticipation is building as the domestic insurance industry joins the 'Korea SOHO Bank' consortium for the first time, dreaming of an innovative financial ecosystem for small business owners. Korea Credit Data announced on the 26th that Heungkuk Life Insurance and Heungkuk Fire & Marine Insurance have confirmed their participation in the consortium, drawing attention to the creation of synergy through the convergence of insurance and digital finance. Under the vision of 'The No. 1 Bank for Small Business Owners,' the Korea SOHO Bank consortium, led by Korea Credit Data, already includes major banks such as Woori Bank, NH NongHyup Bank, and Hana Bank, along with financial companies like Woori Card and Eugene Investment & Securities. Leading IT innovation companies such as LG CNS and Megazone Cloud have also joined forces, strengthening the technological foundation. The addition of Heungkuk Life Insurance and Heungkuk Fire & Marine Insurance has expanded the consortium's service scope into a truly comprehensive financial service system, encompassing banking, cards, securities, and now insurance. The two insurance companies plan to actively support the business stability and growth of small business owners by providing specialized risk management and guarantee services for SMEs, as well as developing customized insurance and financial products. Industry experts interpret the insurance industry's participation as part of a customer 'lock-in' strategy through digital finance and a proactive move to secure new growth engines in a rapidly changing market environment. Especially for insurance companies actively pursuing new businesses such as senior care, pet insurance, and healthcare, an internet bank is expected to become a powerful platform for expanding contact points with small business owners and increasing loyalty. To maximize synergy, Tsis, Heungkuk Life Insurance's IT affiliate, will also participate. Korea Credit Data, which leads the consortium, provides services to 2.3 million businesses nationwide through 'Cashnote,' its small business management and financial service platform, and is already deeply rooted in the small business ecosystem. A Heungkuk Life Insurance official stated, "We joined this consortium with the belief that the future of small business owners is the future of Korea's finance," adding, "Through the convergence with digital finance beyond insurance, we will create an environment where small business owners can operate their businesses with peace of mind and realize a sustainable win-win model." A Korea Credit Data official also emphasized, "We will lead unprecedented financial innovation for small business owners with Heungkuk Life Insurance and Heungkuk Fire & Marine Insurance," and "through collaboration with participating companies, we will create 'The No. 1 Bank for Small Business Owners' that simultaneously supports the stability and growth of small business owners' lives."