Co-CEO System
Focus on "Enhancing AI Competitiveness"
Leap Toward a Global Comprehensive Financial Group
On August 5, Hanwha Life announced that, following an extraordinary general meeting of shareholders and a board of directors meeting, Vice Chairman Kwon Hyukwoong and President Lee Kyungkeun have each been appointed as co-CEOs.
Born in 1961, CEO Kwon joined Hanwha Energy in 1985 and has since served as CEO of Hanwha Energy in March 2012, CEO of Hanwha TotalEnergies in September 2018, Head of Hanwha Support Division in 2020, and CEO of Hanwha Ocean in 2023. Born in 1965, CEO Lee joined Hanwha Life in 1991 and has held positions including CEO of Hanwha Life Asset in December 2016, Head of Planning at Hanwha Life in May 2019, Head of Insurance Division at Hanwha Life in September 2021, and CEO of Hanwha Life Financial Services in November 2022.
On this day, the new co-CEOs, Kwon Hyukwoong and Lee Kyungkeun, sent a 'CEO Letter' to employees, urging, "Let us grow into a life solution partner that provides customized services for all stages of our customers' lives, going beyond insurance." They identified 'enhancing artificial intelligence (AI) competitiveness' as the key driver to achieve this. They also emphasized the need to secure leadership in future markets through a fundamental paradigm shift and innovation in the rapidly changing financial environment.
The new co-CEOs, Kwon and Lee, stated, "As the era of hyper-personalization accelerates with AI technology, the insurance industry must move beyond standardized coverage to propose highly customized solutions based on analysis of each customer's life." They suggested providing differentiated products and experiences that transcend the traditional boundaries of the insurance industry through technology-driven innovation, such as expanding partnerships with global top-tier companies and enhancing AI technology and digital capabilities.
The new co-CEOs, Kwon and Lee, said, "Hanwha Life's path forward is to become a life solution partner that is not merely a fleeting 'point' in customers' lives, but rather a 'line' connecting important moments and a broad 'plane' that fills the journey of life."
As their first activity after taking office, the new co-CEOs, Kwon and Lee, personally visited all departments across 30 floors of the headquarters, meeting directly with approximately 1,800 employees to facilitate communication.
While shaking hands with each individual employee, the new co-CEOs, Kwon and Lee, remarked, "Innovation begins with open communication among members who have diverse experiences and capabilities," and urged, "Let us all work together with one heart to shape the future of Hanwha Life."
Hanwha Life has been leading innovation in its sales system by pioneering the separation of manufacturing and sales (Je-pan-bunri) among major life insurers. Internationally, it has established its position as a global comprehensive financial group by being the first domestic insurer to enter the US securities market and the Indonesian banking market.
The new co-CEOs, Kwon and Lee, stated, "Our unwavering goal is to build a global comprehensive financial group by further advancing our businesses in Southeast Asia, including Indonesia where we have established a comprehensive financial system, and by expanding into the securities business in the Americas and key strategic regions."
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