Park Yunsik, New CEO of MG Insurance, Implements Organizational Restructuring

[Asia Economy Reporter Oh Hyung-gil] MG Insurance announced on the 1st that it has carried out an organizational restructuring and executive appointments.

The organization was restructured from the existing 2 divisions, 4 headquarters, 15 departments, and 35 teams to 4 sectors, 4 headquarters, 15 departments, and 35 teams. Additionally, under the new CEO Park Yoon-sik, a large number of new executives were appointed to strengthen execution capabilities and were strategically placed.

MG Insurance held its regular shareholders' meeting and board meeting the day before and appointed Park as the new CEO. CEO Park faces the task of promptly completing the planned capital increase.

In his inauguration message, CEO Park said, "Let us vigorously promote company-wide change and innovation," and added, "In the rapidly changing future financial market environment, let us establish ourselves as a fast, smart, and professional strong small insurance company with competitive human and technological foundations."

The following are the key personnel changes.

[Personnel]

Vice Presidents

▶ Head of Management Planning Sector Lee Deok-jae ▶ Head of Sales Sector Kim Sang-hwa

Executive Directors

▶ Head of Product and Compensation Sector Kim Tae-cheol ▶ Chief Risk Officer (CRO) Lee Il-seon ▶ Head of Asset Management Sector Seo Won-cheol ▶ Chief Consumer Protection Officer (CCO) Seo Jae-young

Managing Directors

▶ Head of Product Operations (concurrent) and Long-term Insurance Team Leader Park Jae-jung ▶ Compliance Officer (concurrent), Autonomous Compliance Manager (concurrent), Personal Information Protection Officer (concurrent), Credit Information Manager and Protector Lee Sung-gu ▶ Head of GA Sales Headquarters (concurrent) and Metropolitan GA Manager Joo Dong-ho ▶ Head of Corporate Sales Headquarters (concurrent) and Corporate Sales Team 1 Manager Park Joo-byeong ▶ IT Officer (CISO) Park Jeong-heon

Outside Director

▶ Audit Committee Member Kim Young-rin

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