KaKao

Daum Communications muscled into the car insurance business on the back of its brand name to attract customers to its other services.

Daum owns 90.1 percent of the car insurance company, which is capitalized at 20 billion won ($16.8 million), and the remainder is owned by LG Insurance, a nonlife insurance subsidiary of LG Group, the country“s second-largest business conglomerate.

It seeks to attract 200,000 clients for a turnover of 100 billion won in the online car insurance business this year. The target market is Internet users in the 20-to-40 age bracket.