Bay Moon says the Japan P&I Club appears to have stopped targeting Korea P&I’s business after he objected to its marketing activities.
The Korea P&I Club’s chief operating officer said he complained to the South Korean financial authorities about his rival’s discounting when it entered the domestic market in 2017 and again last year.
Moon alleged that when the Japanese club entered the South Korean business for the second time, ahead of the February 2019 renewal, it was offering discounts of up to 40% to win Korea P&I accounts.
