Cho Daegyu Appointed as New CEO of Kyobo Life Insurance

by Choi Donghyeon

Published 06 Mar.2024 15:22(KST)

Updated 11 Mar.2024 17:08(KST)

Kyobo Life Insurance announced on the 6th that it has selected Cho Dae-gyu, Vice President (59), as the new CEO candidate.

Kyobo Life held a board meeting and an executive candidate recommendation committee meeting the day before, deciding to recommend Vice President Cho Dae-gyu, who serves as Head of the Management Planning Office and Head of the Human Resources Support Office, as the next CEO candidate. Cho is expected to be officially appointed as CEO following the resolution at the regular shareholders' meeting on the 22nd. The current CEO, Pyun Jeong-beom, will step down from his position at the end of this month after completing his three-year term.

Cho Dae-gyu, Vice President of Kyobo Life Insurance, appointed as the new CEO candidate of Kyobo Life Insurance. [Photo by Kyobo Life Insurance]

Kyobo Life will operate under a dual CEO system with Shin Chang-jae, CEO and Chairman of the Board, and the newly appointed CEO Cho. Chairman Shin will be responsible for long-term strategy, planning, and asset management, while the new CEO Cho is expected to oversee the insurance business.

CEO candidate Cho was born in Seoul and graduated from Sungkyunkwan University’s College of Education and Sangmyung University’s Graduate School of Business Administration. He joined Kyobo Life in 1989 and is a seasoned Kyobo man. He has held various positions including Head of the FP (Financial Planner) Headquarters responsible for sales, Director of the Training Institute, Head of Sales Education Team, and Strategic Planning Officer. Since 2019, he has been serving as Head of the Management Planning Office and Head of the Human Resources Support Office. Having extensive experience in sales, strategic planning, and human resources, he has long been considered a candidate for the next president.

An official from Kyobo Life’s executive candidate recommendation committee explained the background of the recommendation, saying, “He has played a pivotal role in establishing and executing the company’s future strategic businesses, including digital transformation, as Head of the Management Planning Office, along with diverse experience in the insurance business. He possesses all the qualities and capabilities required of a top executive, including proactive communication skills, empathetic leadership, and innovative execution ability.”