Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
Lina Korea names new CEO
By Lee Min-hyung
Lina Korea CEO Cho Jee-eun
By Lee Min-hyung
Lina Korea's new CEO Cho Jee-eun took office on Thursday as the leader of the Korean unit of the U.S.-based life insurer.
Cho served as the former chief operating officer of the company before taking up the post by succeeding Benjamin Hong who led the firm for a decade.
“Cho has been recognized for her strong communication skills and leadership, and Lina's U.S. headquarters identified her as the most qualified person for the position at a time when Korea's insurance industry is faced with mounting challenges,” an official from the company said.
Lina Korea said Cho has a strong sense of understanding of the firm's insurance business and this will help the company achieve a major leap forward to become a more advanced health service provider here. Cho also has a good command of Korean and English.
Benjamin Hong has become a chairman of the firm's board of directors and plans to keep partnering with Cho on the overall management of Lina Korea.
Cho moved to Lina Korea in 2011 after ending her career at MetLife Korea. She has since been promoted to the chief of staff last year in less than a decade.
She is the only female CEO in the nation's insurance industry. It has been five years since a female CEO was appointed in the industry. Former Prudential Life Company of Korea Sohn Byoung-ok finished her leadership there in 2015.
As she is one of the youngest CEOs in the industry here, expectations are that she will be able to help transform the company in a more agile manner despite the pessimistic outlook in the nation's insurance industry amid prolonged low interest rates and weak economic growth.
Lina Korea was established here in 1987 and has since focused on telemarketing business without resorting to any face-to-face sales operations. After gaining a competitive edge in its marketing strategy, the company has reported solid and stable earnings, even as major overseas insurers here are reporting dismal performance and are mired with a series of controversies over sales to other Korean financial firms.