The Boram Group announced on the 16th that it has appointed Kim Gi-tae, co-CEO of Boram Sangjo Life (head of Boram Group's GA business), as co-CEO of Boram Sangjo Leaders. CEO Kim will officially be appointed through the shareholders' meeting in March after a board resolution, and he will concurrently serve as co-CEO of Boram Sangjo Life and Boram Sangjo Leaders.
CEO Kim is an expert who has worked in the insurance industry for over 20 years since 1984 and has been involved in the funeral service industry since 2005. He joined Boram Sangjo Life as CEO in 2021 and was recognized for his abilities, rising to head the Boram Group's GA business. The Boram Group assessed, "CEO Kim is the right person to lead the group's mid- to long-term growth based on his rich field experience and sales know-how."
Intense competition is expected in the domestic funeral service market due to the expansion of existing companies and the entry of corporations from other sectors. In response, the Boram Group is positioning itself as a total life care service corporation to strengthen profitability and build a sustainable business model. With the appointment of the new CEO, the group plans to enhance collaboration among its subsidiaries and maximize its competitive edge.
Additionally, the Boram Group is promoting 'Boram 550' as one of its strategic products aimed at enhancing market competitiveness at the group level. Boram 550 is the flagship product of Boram Sangjo Life, sold through a nationwide GA (General Agency) sales network in a B2B format. In the future, Boram 550 intends to expand its sales channels at the group level to strengthen its market competitiveness.
CEO Kim will oversee the nationwide GA sales network and concentrate all efforts on creating synergy. He noted, "Based on the experience and capabilities I have built up over the past 40 years in the insurance and funeral service industries, I will dedicate myself to the group," and added, "I will fulfill my role to ensure that the Boram Group can leap forward as a leading corporation in the industry and as a total life care service corporation."