Korea Life Insurance Co. Limited, the 2nd largest insurance company in Korea, has just signed a software license agreement and a customization agreement on the 29th October 2008 with eBaoTech to implement LifeSystem V3.1.6 for their subsidiary in Vietnam.

Korea Life Vietnam is a start-up operation and they are planning to launch both traditional life and universal life products in Ho Chi Minh City by 1st April 2009. They have plans to expand to the capital city of Hanoi and the sea port of Danang subsequently. Their main distribution and sales network will be through their agency force.

The project commenced in August 2008 is scheduled to go into production on 1st April 2009.