SEOUL, March 10 (Yonhap) -- South Korea's state-run health insurance firm saw its net profit reach a record-high level last year on the back of improved efficiency in management, the organization said Sunday.
The National Health Insurance Service (NHIS) said the combined net profit for 2012 came to 3.94 trillion won (US$3.6 billion) in 2012 for its health insurance and long-term care businesses, marking the highest level since it was established in 2000.
"The improved net profit came as the NHIS made efforts to reduce expenditures and improved efficiency of its management," an official from the firm said.
The state health service provider said it collected 42.6 trillion won in insurance premiums last year, while outlays for examination and treatment came in at 39.3 trillion won, resulting in a net profit of 3.3 trillion won.
Net profit on the firm's long-term care business, which targets elderly people with difficulties in taking care of themselves, reached 624 billion won over the cited period, according to the NHIS.
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