Korean Re chairman dies at 89

By Nam Hyun-woo

Won Hyuck-hee, chairman of Korea’s sole homegrown reinsurer Korean Re, passed away Tuesday. He was 89.

Won also served as executive director of Daelim Industrial and CEO of Poonglim Industries in the 1970s. After becoming the largest shareholder of Korean Re, he served in the posts of honorary chairman and board chairman of the reinsurance company.

Under Won’s leadership, Korean Re joined the world’s top 10 reinsurance companies. The company’s current CEO is his third son Jong-gyu.

Won is survived by three son and two daughters. A memorial altar will be set up at the Severance Hospital in Seodaemun-gu, Seoul, until Friday.