NU Online News Service, Dec. 6, 3:52 p.m. EST

The insurance industry is lauding the new trade pact reached Friday between the U.S. and South Korean governments.

According to officials at the American Insurance Association, South Korea’s insurance market is one of the top 10 largest in the world, yet its foreign market share is only 3 percent, according to data compiled by the U.S. International Trade Commissioner.

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