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Hanwha General Insurance to launch online insurance unit

South Korea-based Hanwha General Insurance Co. Ltd. plans to set up an online insurance unit sometime in June.

The new unit, yet to be named, will market online insurance products under the Carrot brand name, according to a May 29 filing.

Hanwha General Insurance invested 51.6 billion won in March to own 75.1% of an online insurance venture, according to a March 25 filing.

As of May 29, US$1 was equivalent to 1,195.19 South Korean won.