Chung Ji-won has become the new chairman of the General Insurance Association of Korea on Dec. 23. His term of office will last three years until December 22, 2023.
The new Chairman Chung, who was appointed at the general meeting last month, passed the job screening by the Public Officials Ethics Committee and was officially inaugurated, the association said on Dec. 22
After passing the 27th public administrative exam, Chung Ji-won worked at the finance ministry and served as a planning coordinator, director of financial services, and a standing committee member at the Financial Services Commission.
A graduate of Daedong High School in Busan, Chung graduated from the economics department at Seoul National University.
In his inauguration speech, Chung said, “The association should look for a new model for the insurance industry in response to the paradigm shift, such as accelerating the fourth industrial revolution such as AI and big data, the new normalization of 3 “lows” (low interest rate, low growth, low birth rate) and increasing social demands for consumer protection.”