Samsung Fire's New CEO Likely Hong Won-hak... Samsung Asset Management's Seo Bong-gyun

[Asia Economy Reporter Oh Hyung-gil] The heads of Samsung Fire & Marine Insurance and Samsung Asset Management, financial affiliates of Samsung Group, are expected to be replaced.

Samsung Group plans to carry out a personnel reshuffle for its financial affiliates' presidents on the 10th. Choi Young-moo, who has led Samsung Fire & Marine Insurance for nearly four years since becoming CEO in 2018, is stepping down, and Hong Won-hak, Vice President and Head of the Auto Insurance Division, is reportedly the leading candidate to succeed him.

Vice President Hong was born in 1964 and graduated from Korea University with a degree in Japanese Language and Literature. He has held various positions at Samsung Life Insurance, including Head of the HR Team, Head of the Specialized Sales Division, Head of the Strategic Sales Division, and Head of FC Sales Division 1. At the end of last year, he moved from Samsung Life Insurance to Samsung Fire & Marine Insurance.

At Samsung Asset Management, CEO Shim Jong-geuk is stepping down from his frontline position, and Seo Bong-gyun, Executive Director and Head of Sales and Trading at Samsung Securities, who previously worked at Goldman Sachs in the U.S., is reportedly the leading candidate.

It is widely expected that the current CEOs of the other three affiliates, including Samsung Life Insurance, Samsung Securities, and Samsung Card, will remain in their positions.