Jodaegyu Appointed New CEO of Kyobo Life Insurance: "Urgent Need for Change and Innovation"

by Choi Donghyeon

Published 25 Mar.2024 11:30(KST)

Jo Dae-gyu, the new CEO (President) of Kyobo Life Insurance, held an inauguration ceremony at the headquarters in Gwanghwamun, Seoul on the 25th and officially began his duties.

In his inaugural speech, CEO Jo stated, "Currently, the life insurance industry is experiencing stagnation in growth and profitability," adding, "Change and innovation are urgently needed across corporate management." He continued, "The company is promoting ambidextrous management, and as the CEO responsible for the insurance business, I will focus on improving the existing insurance operations," and said, "To realize Kyobo Life Insurance's 'good growth,' I will strive to transform the company into one that grows together with all stakeholders, including employees, beyond merely generating performance in the insurance business." The 'good growth' emphasized by CEO Jo refers to faithfully fulfilling the responsibilities of an insurer so that the life insurance system, which helps people facing life's hardships with a neighborly spirit of love, can operate as originally intended.

Since 2021, Kyobo Life Insurance has maintained a dual CEO system. This strategy aims to enhance profitability by strengthening competitiveness in the core insurance business while securing new growth engines through digital transformation and other initiatives. CEO Shin Chang-jae, who also serves as Chairman of the Board, focuses on long-term strategies and planning for Kyobo Life's sustainable management, as well as future growth strategies such as asset management. CEO Jo is responsible for the insurance business to strengthen core competitiveness.

CEO Jo said, "Communication and empathy between organizations are the most important when carrying out work," and added, "All employees will do their best to accelerate innovation in the insurance business with one heart and one mind and to lead Kyobo Life Insurance's sustainable growth."

Born in Seoul, CEO Jo graduated from the College of Education at Sungkyunkwan University and the Graduate School of Business at Sangmyung University. He joined Kyobo Life Insurance in 1989 and is a seasoned 'Kyobo man' who has extensive experience across the insurance industry, having served as head of the Financial Planner (FP) division responsible for sales, head of the training institute (Gyeseongwon), head of sales education, strategic planning officer, and general manager of management planning and human resources support.