Hanwha Life Insurance in South Korea has reinstated its dual CEO structure after several years of single leadership. Vice Chair Kwon Hyeuk-woong and President Lee Kyung-keun officially began their joint leadership roles. Their appointment marks a new chapter for the company as it adapts to global competition and rapid technological change. The decision was approved during a shareholder meeting and reflects Hanwha’s strategic push toward innovation and expansion. Both leaders bring unique experience to guide the insurer into its next phase of growth.
Hanwha Life Insurance aims to transform into a life solutions partner, offering services that go far beyond traditional policies. The company now wants to support customers at every stage of their lives, not just during emergencies or retirement. This shift requires smarter tools and a more flexible approach to financial services. For that reason, the new CEOs are placing strong emphasis on technology, especially artificial intelligence. They believe this will be the key to building deeper connections with customers.
AI will allow Hanwha Life Insurance to deliver hyper-personalized services that meet individual needs. As customer expectations evolve, the company plans to use AI for faster, smarter decision-making. AI tools will help analyze life stages, behaviors, and financial goals with greater accuracy. This data-driven model gives Hanwha an edge in today’s tech-driven financial landscape. With stronger AI capabilities, the company expects to boost both customer satisfaction and operational efficiency.
Besides technology, Hanwha Life Insurance is also focused on growing its global footprint. The company plans to strengthen its position in East Asia, especially in Indonesia, where it has built a full-service financial platform. In the United States, Hanwha has entered the brokerage sector as part of its diversification strategy. These regions represent important growth opportunities for the Korean insurer. The company believes this global expansion will increase resilience and open new revenue streams.
Recent investments support Hanwha’s global ambitions. It acquired a controlling stake in US-based brokerage firm Velocity Clearing, gaining entry into the American financial market. At the same time, it made a strategic investment in Indonesia’s Nobu Bank, enhancing its reach in Southeast Asia. These moves mark milestones not just for Hanwha Life Insurance, but for South Korea’s broader insurance industry. The firm is signaling that it wants to be a major player on the world stage. More cross-border deals may follow as the company advances its long-term vision.
On their first day as co-CEOs, Kwon and Lee personally visited all 30 floors of the company’s Seoul headquarters. They greeted over 1,800 employees, shared their goals, and encouraged collaboration. This visit highlighted their people-focused leadership style and commitment to open communication. They believe strong internal culture is essential to achieving the firm’s global and digital goals. The leadership duo hopes to inspire innovation across all departments.
Kwon will oversee general operations, bringing experience from his former role as CEO of Hanwha Ocean. His deep understanding of large-scale businesses positions him well to manage broad company functions. Lee, meanwhile, will lead insurance strategy and business development. He previously led Hanwha Life Financial Services, giving him insight into customer needs and sales strategies. However, their partnership is expected to create a balanced and results-driven leadership team.
In conclusion, the return to a dual CEO structure reflects a belief in shared leadership for complex challenges. Hanwha Life Insurance had moved away from this model years ago but now sees value in dual expertise. This change comes as the company responds to fast-moving global trends and rising competition. With AI innovation and global growth as top priorities, the firm is setting its sights on the future. Hanwha Life Insurance is determined to lead the transformation of the insurance industry.
