Shinhan EZ Insurance Signs Strategic Investment Agreement Worth 80 Billion KRW with KT and Duzon Bizon

(Photo from left) Jiyonggu, Vice President of Douzone Bizon; Kim Chaehee, Executive Director of KT Strategic Planning Office; Kang Byungkwan, CEO of Shinhan EZ Insurance; and Go Seokheon, Managing Director of Shinhan Financial Group are posing for a commemorative photo.

[Asia Economy Reporter Bu Aeri] Shinhan EZ Insurance announced on the 6th that it has signed a strategic investment agreement to acquire new shares worth approximately 80 billion KRW with KT and Douzone Bizon.

Based on this strategic investment, Shinhan EZ Insurance will promote various collaborative projects such as digital transformation across the insurance value chain with KT, development of innovative services combining telecommunications and finance, and joint marketing based on big data analysis.

In addition, by linking with the digital platform and services of Douzone Bizon, the nation's No.1 enterprise resource planning (ERP) specialist company, it plans to introduce new business models including insurance products specialized for small and medium-sized enterprises.

Since its launch in July, Shinhan EZ Insurance has been preparing a large-scale innovation effort to transition to a digital-based business model. In August, it signed a memorandum of understanding (MOU) with KT, a strategic partner of Shinhan Financial Group.

Through this new share acquisition, Shinhan Financial Group holds 85.1%, KT holds 9.9%, and Douzone Bizon holds 5% of Shinhan EZ Insurance shares.

Kang Byung-kwan, CEO of Shinhan EZ Insurance, said, "With this investment agreement, Shinhan EZ Insurance has established a foundation to have a diverse product portfolio and to undertake innovative attempts," adding, "We will strive to become a risk management platform company for everyday life."

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