Kim Cheol-ju Unanimously Appointed as Chairman of the Life Insurance Association

Choi Sang-mok, Deputy Prime Minister for Economy, and University·Haengsi Classmates

Kim Cheol-ju, Chairman of the Financial Creditors Adjustment Committee, has been appointed as the President of the Life Insurance Association.

On the 5th, the Life Insurance Association held a general meeting attended by the heads of the life insurance industry and announced that Chairman Kim was unanimously elected as the 36th president. Although he had not been mentioned as a candidate for the president of the Life Insurance Association until then, he suddenly emerged as a candidate at the 2nd meeting of the Presidential Candidate Recommendation Committee and was recommended as the sole candidate at the 3rd meeting.

The term of the new president is three years, from the 9th of this month to December 8, 2026. Born in 1963, the new president Kim graduated from Daegu Cheonggu High School and Seoul National University with a degree in Economics, and entered public service in 1985 by passing the 29th Administrative Examination. He is an alumnus of Seoul National University and a classmate in the administrative exam with Choi Sang-mok, the current Deputy Prime Minister and Minister of Economy and Finance nominee and Chief Economic Secretary to the President.

As a traditional economic bureaucrat, he served in the Ministry of Finance's International Finance Bureau, the Ministry of Finance and Economy's Economic Policy Bureau, and the Ministry of Economy and Finance's Economic Policy Bureau. In 2001 and 2010, he worked as an economist at the Asian Development Bank (ADB) and as a senior economist at the World Bank (WB), respectively. During the Park Geun-hye administration, he held positions such as Director of the Public Policy Bureau, Director of the Economic Policy Bureau, Director of the Planning and Coordination Office, and Economic and Financial Secretary at the Blue House's Office of the Chief Presidential Secretary for Economic Affairs. It is reported that he voluntarily went abroad during the transition to the Moon Jae-in administration. After serving as Deputy Director of the Asian Development Bank Institute (ADBI), he has been serving as Chairman of the Financial Creditors Adjustment Committee since May 2021.

Kim Cheol-ju, the newly appointed President of the Life Insurance Association (Photo by Life Insurance Association)

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