At the seminar to be held on the theme of "Maritime insurance and reinsurance to cope with the present market situation" insurance experts inside and outside the DPRK and personages will present papers on the pending insurance issues and hold discussions on them.

Present there were Yang Hyong Sop, vice-president of the Presidium of the DPRK Supreme People's Assembly, Pak Su Gil, vice-premier and minister of Finance, So Tong Myong, general manager of the Korean National General Insurance Company who is chairman of the Organizing Committee of the Pyongyang International Insurance Seminar, and officials of the company, insurance workers in local areas and officials concerned.

Among those present were Ezzat Abdel-Bary, secretary general of the Federation of Afro-Asian Insurers and Reinsurers, and his party, Roberto Quinto Martinez, permanent secretariat of the Association of Insurance and Reinsurance in Developing Countries, and representatives of companies of China, Morocco, Sudan, Switzerland, the United Arab Emirates, Britain, India and Egypt, officials of foreign embassies and missions of international organizations here and the delegation of the Kumgang Insurance Company of the General Association of Korean Residents in Japan.

So Tong Myong said in his opening speech that the seminar would help to find practical ways for meeting the challenges to the maritime insurance and reinsurance markets.

Expressing belief that the seminar would make successful progress thanks to the sincere and positive efforts of the participants, he declared the seminar open.

Yang Hyong Sop in his congratulating speech said that the international environment at present requires each country to make an effective use of its financial resources in the field of insurance and boost the cooperation and exchange among countries.

He expressed belief that the seminar would yield good results and, furthermore, prove to be an assembly conducive to more energetically developing the maritime insurance worldwide.

Ezzat Abdel-Bary in his speech expressed thanks to the government and people of the DPRK for having invariably supported the cooperation between the two continents of Asia and Africa and contributed to the development of the federation.

He expressed hope that the insurance officials would achieve great successes in their work by their concerted efforts.

Then followed speeches.

On the same day the Seminar Organizing Committee and the Korean National General Insurance Company hosted a reception at the Okryu Restaurant in honor of the participants in the seminar.