KGM, Samsung Fire Join Hands on Integrated Vehicle Lifecycle Services

Based on Vehicle Data and Infrastructure Insurance, Maintenance, Used Car Businesses Linked as One

Finance|
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By Yoo Min-hwan
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Kwak Jung-hyun (left), President of KGM's Business Strategy Division, and Lee Sang-dong, Vice President of Samsung Fire & Marine Insurance's Auto Insurance Division, pose for a commemorative photo after signing a business agreement for "Integrated Mobility Lifecycle Services and Joint Business Promotion" at Samsung Fire & Marine Insurance's headquarters in Seocho-gu, Seoul on the 21st. Photo courtesy of KGM - Seoul Economic Daily Finance News from South Korea
Kwak Jung-hyun (left), President of KGM's Business Strategy Division, and Lee Sang-dong, Vice President of Samsung Fire & Marine Insurance's Auto Insurance Division, pose for a commemorative photo after signing a business agreement for "Integrated Mobility Lifecycle Services and Joint Business Promotion" at Samsung Fire & Marine Insurance's headquarters in Seocho-gu, Seoul on the 21st. Photo courtesy of KGM

KG Mobility (KGM) and Samsung Fire & Marine Insurance (000810.KS) will jointly build an integrated service covering the entire vehicle management process.

KGM signed a memorandum of understanding with Samsung Fire & Marine Insurance to promote "mobility lifecycle integrated services and joint business," the company said Tuesday.

Through the partnership, the two companies will build an integrated mobility service spanning the entire vehicle usage process — from new car purchase to insurance, driving, maintenance, and used car sales — and develop a platform for accident prevention and safe driving. They will expand customer touchpoints by linking insurance at the new car purchase stage, and connecting maintenance networks and parts supply businesses at the operating stage. In addition, they will pursue multifaceted business cooperation combining the expertise of the automaker and the insurer, including linking insurance services in the purchase and sale process of certified used cars.

"Based on both companies' vehicle data and infrastructure, this will serve as an opportunity to present differentiated service standards encompassing the mobility lifecycle," a KGM official said. "We will strengthen our customer service competitiveness to create an environment where people can move more enjoyably."

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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