"Investing in Health Through Insurance and Jokgu"... The Story Behind Sangmoa Financial Services CEO Jeong Sang-ho Hosting a Jokgu Tournament

Support for Promoting Community Sports, Wishing for Citizens' Health and Vitality

1st Sarangmoa Cup Held at Silla University on November 3

Co-hosted by Asia Economy Yeongnam Headquarters and Busan MBC

"Insurance and jokgu have something in common."

Last September, due to Typhoon 'Yagi' and consecutive heavy rains causing floods in Myanmar, the ambitious amateur jokgu tournament he planned to sponsor this year was on the verge of being canceled.

He and his company employees have been strong sponsors for over 10 years, financially supporting after-school education for extremely poor children in Myanmar. This year, he also intended to sponsor a jokgu tournament to promote the health and vitality of domestic amateur athletes.

With urgent flood recovery needed in Myanmar and a large sum of money to be raised, the jokgu event he was about to give up on remained on his mind. Valuing the hopes of amateur athletes, he decided to hold the tournament, saying, "Let's do it, let's run harder."

The jokgu tournament generously sponsored by Sangmorae Financial Services CEO Jeong Sang-ho for citizens' healthy amateur sports is approaching this weekend.

Sangho Jeong, CEO of Sarangmoa Financial Services.

The 1st Busan MBC-Sangmorae Financial Services Cup Invitational Jokgu Tournament for Outstanding Teams, sponsored by Sangmorae Financial Services and co-hosted by Asia Economy Yeongnam Reporting Headquarters and Busan MBC, will be held on November 3 at the main stadium of Silla University in Sasang-gu, Busan.

CEO Jeong said, "Both the insurance business and jokgu share the common goal of wishing for citizens' lives and health," adding, "Starting with this first tournament, we plan to hold the event annually."

Sangmorae Financial Services, managed by him, is likened to a "Hi-Mart" of the insurance industry. It is a corporate insurance agency (GA) operating like a large mart, contracting with insurance companies and specializing in insurance sales. It is not limited to any specific company and can sell products from all life and non-life insurance companies.

Founded in 2007, the company currently has 245 full-time employees and about 1,720 partner sales agents. It has established a sales network with 9 headquarters and 56 branches nationwide and recorded commission sales of about 150 billion KRW last year. This year, it forecasts sales growth to 200 billion KRW. Nationwide, it ranked around 38th in the number of agents and 18th in sales last year. In Busan, it ranks about 2nd or 3rd among GAs.

After graduating from university, CEO Jeong started his first job as an insurance agent and has walked the path of insurance ever since, now running a large GA with about 2,000 insurance agents and employees. He is the corporate representative owning four buildings, including a 10-story office building in Beomcheon-dong, Busanjin-gu, and buildings in Jinju City.

CEO Jeong is neither "gold spoon" nor "silver spoon." Whether an insurance agent or a corporation, he said, "The GA's success is only 'self-made' because it is a business where commission income accumulates as hard work is put in."

Students from the Jokgu Club of Shilla Middle School are having a practice match at the Jokgu court in Hwamyung Ecological Park. A middle school team will also participate in this tournament.

CEO Jeong emphasized, "Whether insurance or jokgu, both are investments in health," adding, "If insurance is about preparing a better future in case of emergencies, jokgu is investing daily in the health of body and mind for the future."

He explained that Sangmorae Financial Services invests more in its members compared to other GAs. "Agents are not machines working just to make money," he said, emphasizing their focus on recharging programs through healing.

They spare no expense on domestic trips and festivals, Southeast Asian festivals, overseas trips for the Leaders Club, and filial piety events inviting agents' families and parents. Another area where they do not hold back is love-sharing practiced toward neighbors. Annual events include making kimchi and delivering briquettes in winter, and monthly sponsorships for underprivileged families through the Community Chest of Korea are regular love and happiness sharing activities.

To fund this sharing, the people of Sangmorae promised to collect money. Employees and agents donate their spare change, from 5,000 to 10,000 KRW, from their monthly salaries and allowances, and the company matches the total amount, extending a helping hand to those in need with 6 to 15 million KRW monthly.

CEO Jeong said, "Although this is the first time holding a jokgu amateur sports tournament, it is a way to open various paths to approach potential customers," adding, "We also plan to gift health consultation services that can remodel lives."

The 1st Busan MBC-Sangmorae Financial Services Cup Invitational Jokgu Tournament for Outstanding Teams, held on November 3, will feature about 60 teams and 500 players competing across six divisions (J3~4 combined division, J5, J6, 50s division, 60s division, women's division), creating an autumn festival.