Seoul Guarantee Insurance Company
Seoul Guarantee Insurance Company (SGIC, Hangul: 서울보증보험) is a financial services company in South Korea. Its headquarters are in Seoul. SGIC is the largest provider of surety and trade credit insurance. It is fully owned by Korea Deposit Insurance Corporation. KDIC is a government institution that insures bank deposits.
History[change | change source]
The company was formed after the merger between Hankuk and Korea Fidelity and Surety Corporation. It happened during the economic crisis that hit Korea in 1998. A mass layoff and restructuring followed.