Establishing a Sustainable Management System
Achieving Mutual Growth with Stakeholders
Environmental Education, Future Generations, and Customer Protection
Kyobo Life Insurance announced on the 20th that it received the Presidential Citation in the Sustainable Management category of the National Quality Special Award at the 51st National Quality Management Convention held at COEX in Gangnam-gu, Seoul, on the 19th.
Jae-Kyu Cho, President and CEO of Kyobo Life Insurance (left), is taking a commemorative photo after receiving the Presidential Award in the Sustainable Management category at the 51st National Quality Management Convention held on the 19th at COEX in Samseong-dong, Gangnam-gu, Seoul. Kyobo Life Insurance
The National Quality Management Convention is an event hosted by the Ministry of Trade, Industry and Energy and organized by the Korean Standards Association. Since 1975, it has been a government award presented annually to organizations that have contributed to enhancing national competitiveness through quality management innovation. The Sustainable Management category recognizes companies for their management systems and social achievements, officially acknowledging their commitment to ongoing innovation.
Kyobo Life Insurance was recognized for consistently pursuing mutual growth with stakeholders and strengthening its sustainable management system, based on its founding philosophy of “Fostering National Capital and Promoting Public Education.”
In 2011, Kyobo Life Insurance became the first company in the insurance industry to publish a sustainability report. In 2012, it incorporated its sustainability management philosophy into its articles of incorporation. In 2022, by operating an ESG (Environmental, Social, and Governance) committee and consultative body, it established ESG management as a core principle in corporate decision-making.
The company also actively engages in activities aimed at creating social value. Its flagship environmental education program, the “Jiguhada Festival,” attracts about 5,000 participants annually. Other initiatives include the Mobile Environmental Classroom, a short-form environmental education contest, and a donation campaign using an environmental action application. In June, it also received the Presidential Citation at the 30th Environment Day event.
Fostering future generations equipped with physical strength, character, and knowledge is also a key principle of Kyobo Life Insurance's sustainable management. The Kyobo Life Cup Dream Tree Sports Festival is the only private youth comprehensive sports competition in Korea, held for 41 years since 1985. Over 155,000 athletes have participated in the event so far, and more than 500 of them have gone on to represent the country as national athletes.
These athletes have won more than 200 medals at events such as the Olympics and Asian Games. Rather than focusing on supporting individual star athletes, the company has prioritized expanding the base of youth grassroots sports. Even during challenging times, such as the International Monetary Fund (IMF) foreign exchange crisis, the competition was never suspended.
Kyobo Life Insurance has also practiced sustainable management in its core role as a life insurer by providing customer protection. The “Lifelong Assurance Service,” introduced in 2011, is a representative example. This service focuses on ongoing maintenance and management by regularly visiting customers to review their coverage and assist with unclaimed insurance benefits.
A Kyobo Life Insurance representative stated, “Kyobo Life Insurance has continuously advanced its sustainable management philosophy while pursuing mutual growth with all stakeholders. As a leading life insurer, we will continue to strengthen the essence of insurance and carry out various activities that contribute to the sustainable development of society.”
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