TONGYANG Life Insurance announced on the 1st that it has appointed Sung Dae-kyu as the new chief executive officer during a board meeting held at the Gran Seoul Tower 1 in Jongno-gu, Seoul.
The new CEO Sung graduated from Hanyang University with a degree in economics and entered public service through the civil service examination, where he performed key policy work in the insurance industry. In 2016, he served as the president of the Korea Insurance Development Institute, leading policy formulation and system improvement for the entire insurance sector.
Sung was appointed as the chief executive officer of Shinhan Life in 2019 and successfully led the acquisition of Orange Life. In 2021, he took office as the inaugural CEO of the merged Shinhan Life, leading the organizational integration and strengthening the company. Since September of last year, he has been part of the Woori Financial Group, overseeing the entire acquisition process of Tongyang Life Insurance and ABL Life and playing a key role.
TONGYANG Life Insurance noted that "based on rich experience in acquisitions and organizational integration, we expect to clarify the medium- to long-term direction of TONGYANG Life Insurance in line with the institutional sector strategy of Woori Financial Group and contribute to improving the stability and efficiency of organizational operations."
In his inaugural speech, CEO Sung stated, "Having worked in the insurance industry for a long time, I will create a company trusted by customers, employees, and shareholders based on my experiences and responsibility to turn crises into opportunities and lead sustainable growth."