CEO Park Focuses on Enhancing Efficiency
With the vision of transforming Tong Yang into a global financial leader, CEO Park Joong-jin has placed top priority on maximizing efficiency in business practices since he took office in 2006.
To achieve this goal, Park launched a comprehensive business management system, focusing on improving productivity. The innovative system has enabled the company to retain customers. He also overhauled its salary system to become more meritocratic, meaning it is based more on employee performance.
Based on his leadership, Tong Yang realized profits for 10 consecutive years, and is expected to attain its best-ever business performance since its establishment in 1989. Park said the firm will expand its boundaries to the pension market as well as maintaining its strong point of child insurance.
"We are interested in the retirement market. As baby boomers are preparing to stop work, the pension market will grow drastically for the foreseeable future," Park said. "We kicked off long-term care pension products, which guarantees security after retirement. We are running a research center, which focuses on the pension market with our sister company, Tong Yang Investment Bank."
The CEO said they will boost the child insurance market, where the firm has a strong standing.
"We are strong in child insurance, staying at first or second place in the field. It is a market with great potential to grow as they can be lifelong customers."