Woongjin FreedLife Ushers in the 3 Trillion Won Advance Payment Era

Average Annual Growth of 15% in Advance Payments... 3 Trillion Won Milestone Approaching After Surpassing 2 Trillion
Complete Overhaul of Product Lineup in 5 Years... Highlighting the 'Woongjin' Brand
Aiming to Establish a Data-Driven Sales System with AI Consultation Center

Woongjin FreedLife, the leading funeral service company in Korea, is expected to usher in a new era in the industry by being the first to reach 3 trillion won in advance payments. In line with this, the company plans to completely overhaul its funeral service lineup and solidify its position within the industry as a 'total life care platform' that covers the entire lifecycle of its customers.

According to the industry on January 13, as of the end of December last year, Woongjin FreedLife's accumulated advance payments amounted to 2.9 trillion won. After first opening the '2 trillion won era of advance payments' in the industry in 2023 by reaching 2.2315 trillion won, FreedLife continued to expand its advance payment scale, recording 2.56 trillion won in 2024. The average annual growth rate over the past three years, from 2022 to 2025, reached 15.2%. Advance payments are the total amount of membership fees collected monthly by funeral service companies from their members, serving as a key indicator of a company's size and growth potential.

The industry expects Woongjin FreedLife to surpass 3 trillion won in advance payments within the first half of this year without difficulty. On January 2, CEO Moon Hosang also officially declared the beginning of the 3 trillion won era in his New Year's address. During the announcement of 'Vision 2030,' CEO Moon stated, "The funeral service industry is standing at another inflection point," and added, "We will accelerate our transformation into a differentiated total life care platform, based on our 2.6 million customers and accumulated advance payments of 3 trillion won." He further commented, "We will actively pursue new business areas that can create synergy with our existing operations to secure future growth engines."

As part of this strategy, Woongjin FreedLife has completely revamped its funeral service lineup for the first time in five years and unveiled the 'Woongjin Freed 360·450·540' series. This series is the first funeral service product to prominently feature the 'Woongjin' brand since joining Woongjin Group in June last year. The company explains that it has significantly enhanced benefits such as ceremonial services by combining Woongjin Group's credibility with FreedLife's expertise in funeral services. In addition, the company is operating bundled products such as the 'Woongjin Freed 60·80·100' series, which combine products from partner companies in home appliances, furniture, telecommunications, and more.

Woongjin FreedLife has completely revamped its funeral service after five years and unveiled its first new product prominently featuring the 'Woongjin' brand on the 12th. Woongjin FreedLife

Membership benefits and conversion services have also been strengthened. In addition to existing conversion services such as weddings, cruise travel, language training, and home interior, new services have been added, including blood sugar home care and senior monitoring, which allows families to remotely check the daily safety of elderly relatives. The company also plans to expand its directly managed funeral hall network, 'Shillakwon,' nationwide and establish a funeral director training institute. Through these initiatives, Woongjin FreedLife aims to expand the 'Shillakwon' network to provide consistently high-quality services across ceremonial, facility, and care offerings.

Furthermore, the company is pursuing artificial intelligence (AI) innovation by establishing an AI consultation center and upgrading its IT infrastructure. Woongjin FreedLife plans to accelerate platform-driven innovation by digitizing all processes from sales to events, advancing its customer relationship management (CRM) system, and building a data-driven decision-making framework. The goal is to establish a fully data-driven sales system.

A Woongjin FreedLife representative stated, "We will designate 2026 as the de facto 'first year of integration' since joining Woongjin Group and strengthen our core expertise in funeral services," adding, "We also plan to expand our service portfolio through external partnerships and gradually enhance our technological and service competitiveness."