AIA, SK seek cooperation to enhance social values

AIA Group CEO Ng Keng Hooi, right, and SK Group Chairman Chey Tae-won shake hands before a meeting held at SK's headquarters in central Seoul, Thursday. The leaders discussed ideas for the two companies to cooperate in corporate social responsibility, based on their existing project aimed at improving public health. / Courtesy of AIA Korea

By Kim Bo-eun

AIA Group CEO Ng Keng Hooi met SK Group Chairman Chey Tae-won in Seoul, Thursday, to seek cooperation in the area of corporate social responsibility (CSR), AIA Korea said Thursday.

The Korean unit of the global insurance firm said that the leaders discussed ideas and opportunities for bilateral projects in the future.

The meeting was held as the two companies are conducting a joint project, and their leaders share a corporate philosophy based on social values.

AIA Korea, SK Telecom and SK Holdings are in a partnership in operating AIA Vitality X T Health Walking, an application which seeks to improve public health through encouraging people to walk more. The number of subscribers to the application exceeded 1 million as of April.

Ng invested in a shared value-creating business model at the life insurance group, which is designed to benefit consumers, companies, partners and local communities.

Chey, meanwhile, has shown continued interest in CSR. He spoke about the role of corporations in pursuing sustainable social values at the Davos Forum in Switzerland earlier this year.

"The meeting between the two CEOs was a valuable opportunity for the two companies to discuss ways to collaborate in contributing to local communities and creating social values in Korea and other Asian countries where they operate their businesses," an AIA spokesman said.

"With both CEOs sincerely looking to share social values with all stakeholders, we hope to put forward more proactive action plans for the future."

The AIA Group CEO, based in Hong Kong, made a two-day visit to Seoul for meetings with the life insurers' local executives and staff.