Shin Jung-ha, the eldest son of Shin Chang-jae (71), CEO of Kyobo Life Insurance, was promoted to the position of managing director in the life insurer’s annual personnel reshuffle on Nov. 11.
The move accelerates the company’s ‘third-generation management’. Shin Jung-ha’s promotion came 10 years after he joined a Kyobo Group affiliate.
Shin Jung-ha has been in charge of digital transformation (DT) within the group. He will now be in charge of AI utilization, VOC data, and group management strategy.
Shin Jung-ha graduated from New York University in the United States and worked at Credit Suisse in Seoul for more than two years.
In 2015, he joined KCA Claim Adjustment, a subsidiary of Kyobo Life Insurance, as an assistant manager and gained experience in the insurance industry from underwriting to claim payment.
He completed his Master of Business Administration program at Columbia University in the United States.
In 2021, he moved to Kyobo Information & Communication, now currently Kyobo DTS, and worked as the head of the Digital Innovation (DX) New Business Team before joining Kyobo Life as a deputy general manager in May of 2022.
He then took on the roles of Group Digital Transformation Support and Group Data Strategy Team Leader. In the team, he was responsible for building the group’s data system, reviewing the status of DT implementation, and mapping out improvement plans.
In 2021, while working at Kyobo DTS, Shin orchestrated the establishment of Dplanex, a subsidiary of Kyobo DTS and a data analytics company, to build a group data integration system and establish a group digital strategy.
In 2022, Shin Jung-ha led the opening of the KDK Future Insurance AI Research Center, a specialized research center for future insurance technology research, in cooperation with the KAIST.
Earlier this year, he was selected as a management executive candidate and underwent a year-long process to systematically develop digital leadership, accumulate management knowledge like other management executive candidates.
In April of this year, he moved to the position of the head of Group Management Strategy and Group Data Task Force. With this promotion, he will be in charge of AI-enabled VOC data and group management strategies.
Shin Jung-ha’s promotion is unusual among the third generation of company owners in Korea, as he has been promoted to an executive position after accumulating various practical experience over a long period of time.
This reflects the philosophy of Chairman Shin Chang-jae, who emphasizes human resources management principles.
Kim Kyung-bae, head of sustainability planning at Kyobo Life Insurance, poses for a photo after winning the first place at the 2024 Korea Sustainability Competition at Lotte Hotel in Seoul, Nov. 28.
Topping Sustainability Standing in Life Insurance Sector for 15 Years Running
Kyobo Life Insurance was recognized late November for relentlessly pursuing innovation and sustainability in.
Kyobo Life claimed the top spot in the Korea Sustainability Index in the life insurance category at the 2024 Korea Sustainability Competition held at Lotte Hotel in Seoul organized by the Korea Standards Association.
With this award, Kyobo Life came in first in the life insurance sector for 15 consecutive years since the index began, demonstrating its strong sustainability management capabilities.
The KSI evaluates the sustainability of organizations based on the ISO26000, an international standard on social responsibility.
It was jointly developed by the Korea Standards Institute and the Graduate School of International Policies at the Korea Development Institute.
The survey covered 213 companies and organizations in 50 industries.
A total of 27,096 stakeholders and experts, including investors, consumers, employees, and local communities, participated in the survey.
They evaluated seven core topics and 40 subtopics of IS026000, including governance, human rights, labor practices, environment, fair operating practices, consumer issues and the advancement of community engagement.
In the survey, Kyobo Life scored 55.90 points, ranking first in the life insurance sector.
This was an increase from last year’s score of 51.12. It also outperformed the overall industry (47.10) and life insurance industry averages (51.33).
Kyobo Life promotes stakeholder-centered management based on its sustainability management philosophy of pursuing the common development of all stakeholders.
The Korean life insurance giant was the first to publish a sustainability report in the Korean life insurance industry in 2011.
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