Jiwon Jeong to Be Elected New Chairman of the General Insurance Association... Life Insurance Association Also Begins Appointment Process

The General Meeting of Member Companies Held by the Korea Non-Life Insurance Association on the 13th
Life Insurance to Hold the Candidate Recommendation Committee Meeting on the 18th to Appoint Candidates

[Asia Economy Reporter Oh Hyung-gil] Jeong Ji-won, Chairman of the Korea Exchange, is expected to be elected as the next chairman of the General Insurance Association on the 13th.

According to the general insurance industry, the association will hold a general meeting of member companies in the afternoon to discuss the agenda for appointing Chairman Jeong, who was the sole candidate recommended for the next chairman. The meeting will be attended by Kim Yong-duk, the current chairman of the General Insurance Association, and 15 member companies.

On the 2nd, the General Insurance Association’s Chairman Candidate Recommendation Committee recommended Chairman Jeong as the candidate.

However, Chairman Jeong’s official inauguration as chairman is expected to take place after the employment review by the Public Officials Ethics Committee next month.

This is because the Korea Exchange, where Chairman Jeong is currently working, is classified as a public-related organization, and to become chairman of the General Insurance Association, he must undergo an employment review by the Public Officials Ethics Committee. The review is scheduled for the 18th of next month.

Chairman Jeong was born in 1962, graduated from Seoul National University with a degree in Economics, and passed the 27th Administrative Examination. He served in the Ministry of Finance (now the Ministry of Economy and Finance) and the Ministry of Finance and Economy, held positions such as Director of Bank Supervision and Director of Supervision Policy at the Financial Supervisory Commission, and Director of the Financial Services Bureau at the Financial Services Commission. After retirement, he served as CEO of Korea Securities Finance Corporation and then became chairman of the Korea Exchange.

Meanwhile, the Life Insurance Association is also beginning the process to elect its next chairman. The Life Insurance Association’s Chairman Candidate Recommendation Committee will hold its first meeting on the 18th to select candidates. Once the final candidate is decided, member companies will hold a general meeting to elect the next chairman. In the industry, former Financial Supervisory Service Governor Jin Woong-seop and Insurance Research Institute President Jeong Hee-soo are being strongly mentioned as candidates.

Former Governor Jin was previously mentioned as a candidate for the General Insurance Association chairman but had expressed no interest in the position. Attention is now focused on whether his candidacy for the Life Insurance Association chairman is being considered.

This content was produced with the assistance of AI translation services.