Hanwha Life's new co-CEOs pledge AI innovation, global expansion

Kwon Hyeuk-woong, left, and Lee Kyung-keun, new co-CEOs of Hanwha Life Insurance / Courtesy of Hanwha Life Insurance

Hanwha Life Insurance said Tuesday that Vice Chairman Kwon Hyeuk-woong and President Lee Kyung-keun have been appointed co-CEOs following an extraordinary shareholders’ meeting and board of directors session.

In a joint letter to employees, the new leaders called on employees to help transform the company into a “life solution partner” that delivers tailored services throughout each customer’s entire life journey, extending beyond the traditional scope of insurance.

They identified artificial intelligence (AI) as a core growth engine, emphasizing the need to drive innovation and make fundamental paradigm shifts to stay competitive in an increasingly dynamic market.

“As AI accelerates the shift toward hyper-personalization, the insurance industry must evolve from offering uniform coverage to delivering deeply customized solutions that reflect each customer’s unique life circumstances,” the letter read.

The co-CEOs also reaffirmed the company’s long-term vision of evolving from a leading domestic insurer into a global, comprehensive financial group.

Hanwha Life has already established an international presence, becoming the first Korean insurer to enter both the U.S. securities market and the Indonesian banking sector.

“Expanding into key strategic regions to become a global, comprehensive financial group remains our unwavering goal,” the letter read.

As their first official act in office, the new co-CEOs visited all departments across Hanwha Life’s 30-story headquarters, personally greeting more than 1,800 employees.

They emphasized that “true innovation stems from open dialogue among individuals with diverse backgrounds and strengths.”