Shin Chang-jae: "We Will Become a Culture and Finance Leading Company Beyond Insurance"… Announces 'Vision 2025'

"Helping Everyone Live a Prosperous Life"

Shin Chang-jae, Chairman of Kyobo Life Insurance, stated at the 'Vision 2025 Declaration Ceremony' held at the Kyobo Life Insurance headquarters in Gwanghwamun, "We will transcend the traditional insurance business and expand into new areas such as financial investment and arts and culture businesses to become an innovative company that creates unique customer experiences and value."

[Asia Economy Reporter Oh Hyung-gil] "We will become a company that leads culture and finance, delivering value beyond insurance."

Shin Chang-jae, Chairman of Kyobo Life Insurance, said on the 28th at the 'Vision 2025 Declaration Ceremony' held at the Kyobo Life Insurance headquarters in Gwanghwamun, "We will transcend the existing insurance business and expand our business into new areas such as financial investment and arts and culture, becoming an innovative company that creates unique customer experiences and value."

Chairman Shin emphasized the need for a mid- to long-term vision, saying, "Digital technology is bringing disruptive innovation not only to the insurance and finance industries but across all industries," and "The entry of big tech into the financial sector is accelerating, customer expectations are changing, industry boundaries are becoming blurred, and new business models are emerging."

Kyobo Life Insurance explained that Vision 2025 embodies the meaning of helping everyone live a mentally and materially affluent life by supporting lifelong confidence, enjoying diverse cultural activities, and growing intellectually, financially, and socially.

The plan is to expand customer protection, the essential value of life insurance, and provide differentiated customer experiences and services in the fields of arts and culture and finance and investment.

They will actively utilize Kyobo Book Centre and Daesan Cultural Foundation, which have rich artistic and cultural capabilities, experiences, and data, and cooperate with affiliates such as securities, asset management, and asset trust companies to provide a higher level of financial investment services.

Shin Chang-jae, Chairman of Kyobo Life Insurance, stated at the 'Vision 2025 Declaration Ceremony' held at the Kyobo Life Insurance headquarters in Gwanghwamun, "We will transcend the traditional insurance business and expand into new areas such as financial investment and arts and culture businesses to become an innovative company that creates unique customer experiences and value."

Along with the announcement of the new vision, Kyobo Life Insurance will accelerate the 'ambidextrous management' emphasized by Chairman Shin. Ambidextrous management refers to a strategy to improve the existing insurance business while pursuing digital transformation and securing new growth engines for the future.

In the existing insurance business, competitiveness in insurance business will be strengthened based on digital technology, and investments in group-wide integrated platforms, arts and culture, and financial businesses are expected to become active to secure new growth engines.

Additionally, through the financial MyData business, differentiated financial services such as asset management and health management will be provided, and specialized financial education services will be introduced through collaboration with affiliates.

A Kyobo Life Insurance official said, "Over the next five years, we will move boldly toward the vision of becoming a 'culture and finance leading company' through courageous challenges," adding, "We will take the lead in helping customers enjoy a richer life by adding the engine of arts and culture to insurance and finance."

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