The North East based global marine insurer, NorthStandard, is continuing its expansion of expert support and services, with the opening of a new office in South Korea as a further expansion of its Asian network.
Headquartered on Newcastle’s Quayside, NorthStandard has seen a rapid rate of growth following the merger of North P&I Club and the Standard Club in February last year. The merger has provided stability to the shipping industry in turbulent times and formed the leading force in worldwide maritime shipping with a turnover of over £630 million (US$800 million).
The launch of its new office in Seoul, which is expected to be in operation in late spring, comes a year after establishing the combined Asia Pacific headquarters in Singapore. This expansion will be its eighth office to open in the region, which includes China, Japan, Australia, and New Zealand. The Seoul office will be led by Shang Doe Shim to help continue NorthStandard’s commitment to being a key player across the Asian market.
David Roberts, Head of the Asia-Pacific region for NorthStandard, said: “We are delighted to continue the expansion of our Asia network with our new office in Seoul and continue to strengthen our service and global expertise right here from our Newcastle headquarters.
“Expanding into South Korea was a natural step for us after launching our combined headquarters only last year, and as one of the biggest country markets in the region this expansion will allow us to provide additional value to one of our most important customer bases.”