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Korean ecommerce firm to claim $317 million for warehouse fire


South Korean ecommerce company Coupang Co. Ltd. is expected to make an insurance claim of around 360 billion South Korean won ($317.13 million) for a fire that destroyed its Icheon-based logistics center on June 17, The Korea Times reported. Nonlife insurers DB Insurance Co. Ltd., KB Insurance Co. Ltd., Lotte Non-Life Insurance Co. Ltd. and Heungkuk Fire & Marine Insurance Co. Ltd. have offered joint property insurance cover worth KRW400 billion for the warehouse, but DB Insurance and reinsurer Korean Reinsurance Co. will pay for the majority of the claims.

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