Kyobo chief appointed president of Youth Olympics committee

Kyobo Life Insurance headquarters in Seoul. / Courtesy of Kyobo Life Insurance

By Lee Min-hyung

Kyobo Life Insurance Chairman Shin Chang-jae.

Kyobo Life Insurance Chairman Shin Chang-jae has been appointed president of the 2024 Winter Youth Olympics organization committee, the life insurer said Thursday.

Officials from the Ministry of Culture, Sports and Tourism and the provincial government of Gangwon agreed to appoint Shin as the committee's leader at an inaugural general meeting on Thursday.

Shin will preside over the committee until 2024, when the Olympics competition is expected to be held, according to Kyobo Life.

The appointment came in recognition of Shin's long-time philosophy of “cultivating global citizens with wisdom for mutual prosperity” in training young people. He has engaged in several activities to support various artistic, cultural and sporting events here.

As the committee's head, Shin expressed his vision to help young people grow into future leaders with global citizenship.

Shin's philosophy on youth training is based on his professional background, having worked as a doctor and a professor in the past. This enabled him to practice humanistic management. Kyobo's founding philosophy is the promotion of national education.

This allowed him to become a representative entrepreneur who took the lead in sponsoring young people. Throughout his over 20 years as chairman and CEO of Kyobo Life and chairman of Daesan Foundation, Shin has supported youth culture and sports activities in various ways.

He also carried out youth training projects through Daesan Foundation and the Kyobo Foundation for Education, in an effort to discover the potential and value of young people. Kyobo Bookstore, which has become a cultural space for the young, was also founded on the same philosophy.

In particular, he has hosted the Kyobo Life Youth Athletics Competition each year since 1985. The event is the only private sporting event in Korea that features youth sports. Shin has stood at the center of developing the event into a nationwide competition, contributing to enhancing the competitiveness of Korean athletes and the youth sports community, according to Kyobo Life.

The competition has consisted of several sports ― such as figure skating and short track speed skating.

“Now that the Olympic spirit of harmony, coexistence and globalization is more demanding than ever, I will be actively participating in helping the young grow into ideal global citizens on the basis of this valuable Olympics experience,” he said in his inaugural speech.

“I will try hard to make this event the place of cultural exchange for teenagers around the world, as well as the long-remembered place of experience.”

Kim Cheol-min, head of the Korean Culture and Information Service (KOCIS) of the Ministry of Culture, Sports and Tourism, will serve as secretary general of the committee. Retired figure skating superstar Kim Yuna will also participate as an executive committee member.