Third-Generation Leadership Accelerates at Hanwha, Hyundai, and Kyobo Insurance: Three Distinct Management Keywords

Shin Jungha Expands Role as Head of Enterprise AX Support at Kyobo Life Insurance
Jung Kyungsun Focuses on ESG... Hyundai Marine & Fire Insurance Pursues "Organizational Efficiency and Generational Shift"
Kim Dongwon Leads Hanwha Life Insurance's Gl

The third-generation owners of major domestic insurance companies, including Hanwha Life, Hyundai Marine & Fire Insurance, and Kyobo Life, have recently stepped into the forefront of management, increasing their presence. President Kim Dongwon of Hanwha Life is focusing on "global," Executive Vice President Jung Kyungseon of Hyundai Marine & Fire Insurance is concentrating on "social contribution," and Managing Director Shin Jungha of Kyobo Life is prioritizing "IT" as they proceed with succession procedures.

According to the financial sector on December 17, Kyobo Life recently appointed Managing Director Shin Jungha, the eldest son of Shin Changjae, CEO and Chairman of the Board of Kyobo Life, as Head of Enterprise AX Support and Group Management Strategy through its regular personnel reshuffle. The Enterprise AX Support department is a newly established organization that oversees all work related to artificial intelligence (AI) transformation. Under this department, four executive-level teams have been formed: AX Strategy, Business AI Support, AI Technology, and AI Infrastructure.

With this organizational restructuring, Managing Director Shin's role has expanded from supporting AI utilization and overseeing the Voice of Customer (VOC) data to now being responsible for the group's AX strategy. Born in 1981, Shin began his career in 2015 at Kyobo Life's subsidiary KCA Loss Adjusters and gained experience in IT and big data-related affiliates such as Kyobo Information & Communication (now Kyobo DTS). In 2022, he moved to Kyobo Life, where he has been in charge of the group's digital transformation (DT). After being promoted to managing director in last year's year-end personnel reshuffle, he has been undergoing full-fledged management training.

Jung Kyungseon, Chief Sustainability Officer (CSO) and Executive Vice President of Hyundai Marine & Fire Insurance, and the eldest son of Chairman Jung Mongyun, is devoting his efforts to the group’s ESG (environmental, social, and governance) business. Celebrating its 70th anniversary this year, Hyundai Marine & Fire Insurance has restructured its organization in recent years to support Jung's expanded management role and has appointed related personnel to key executive positions.

At the end of last year, Hyundai Marine & Fire Insurance assigned senior expert advisors from the Sustainability Office, led by Jung, to major executive positions. In June, the Sustainability Office headed by Jung was expanded into the Sustainability Division. In the recent organizational restructuring and regular personnel reshuffle, the company appointed Lee Changwook, former Director General of Insurance Supervision at the Financial Supervisory Service, who joined as a senior expert advisor in September, as Chief Internal Audit Officer (CIAO), signaling a generational shift and organizational efficiency drive.

Born in 1986, Jung has shown a keen interest in social innovation, having founded the non-profit Root Impact in 2012 to discover social ventures and established the impact investment firm HGI in 2014. He joined Hyundai Marine & Fire Insurance as CSO for the first time in January last year. He is focusing on social contribution, ESG, and digital transformation within the group.

President Kim Dongwon, the second son of Hanwha Group Chairman Kim Seungyeon, was the first among them to step into the forefront of management, playing the role of a "senior." Born in 1985, Kim joined Hanwha Group in 2014 as Head of the Digital Team in the Management Planning Office, and in 2015 joined Hanwha Life as Deputy Head of the Corporate Innovation Office. He then served as Managing Director of the Digital Innovation Office and as Head of Overseas Business and Future Innovation, before being promoted from managing director to executive vice president in November 2020, and then to vice president the following year. In 2023, he was promoted to president while taking on the role of Chief Global Officer (CGO).

President Kim has achieved notable results in global business. Starting with the acquisition of a stake in Lippo General Insurance in Indonesia in 2023, he acquired a 40% stake in Nobu Bank, owned by Lippo Group, Indonesia's sixth-largest conglomerate, in June of this year. In July, he acquired a 75% stake in the U.S. securities firm Velocity, expanding his influence through aggressive mergers and acquisitions (M&A).

Following Southeast Asia and the United States, President Kim is now focusing on the Middle East as the next global market. On December 8, he attended "Abu Dhabi Finance Week (ADFW) 2025," the largest financial event in the Middle East, held in Abu Dhabi, and stated, "We will create a new financial ecosystem based on Abu Dhabi's advanced market infrastructure." His strategy is to use Abu Dhabi as a base for targeting the Middle East market. Hanwha Life established a representative office in Abu Dhabi last year. Hanwha Asset Management, a subsidiary of Hanwha Life, also established a local entity there this year.