19 June 2013 Reinsurance

Korean Re appoints new chief executive

Korean Re has appointed executive director Jong-Gyu Won as its new chief executive.

He replaces Jong-Won Park, who recent submitted his resignation upon completing his fifth term and has now retired. He was the longest-serving CEO in Korea’s financial corporate history. He had been CEO for 15 years.

Won joined Korean Re in 1986 and has held a number of roles including executive director, managing director, general manager of the accounts department and head of the New York liaison office.
“I feel a grave sense of responsibility in taking office to lead the company into the future,” said Won. “I will take the lead, with a sense of service, in paving the way for future growth of our business.” He also encouraged staff at Korean Re to “refresh their commitment to making the company grow into a strong and competitive reinsurer”.

The company has also made other changes in its executive management team. Managing director Nam-Deuk Chun has been promoted to executive director, while managing directors Doo-Sup Chung and Sung-Bum Kang have been re-elected to the board. New members of the board are Kyou-Chil Chae and Joon-Kyo Kim who have been made managing director from head of the auditing office and head of the planning and management office respectively.

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