Detail

`National Life Insurance Service managed and controlled by the Ministry of Communications recorded its value of policies in force up to 100 billion won on April 30, 1976. In this country the National Life Insurance Law was for the first time promulgated on December 16, 1952 and since the year of 1962 when our national economy began to develop rapidly, the insurance service has also grown at the rate of 40% annually. This service has contributed greatly to the mobilization of domestic capital which was needed for the national economic development and to securing the social welfare. Being basically nonprofit enterprise and initially desinged to promote public welfare and stable living, this service includes six kinds of insurances such as whole life, endowment, education, vocation, independence and welfare. Having determined to offer ceaselessly a better conditioned policy and better service to the public, the Ministry is issuing, on the occasion of the value of policies in force strikes the 100 billion won target, a commemorative postage stamp.`