Inside Korean Re
Korean Re New Year’s Concert in 2025
On January 9, Korean Re hosted the 2025 Korean Re New Year’s Concert, celebrating its 11th year as an annual tradition. The event was organized in two segments, with Korean Re executives, employees, and their families in attendance. The first part of the event took place at the Lotte Hotel World Crystal Ballroom, where attendees enjoyed a special video presentation reflecting on memories of the current headquarters, as the company prepared for its upcoming relocation. This was followed by an introduction video of new employees and a welcome address by CEO Jonggyu Won. In his speech, CEO Won expressed his gratitude to Korean Re employees and their families for their dedication over the past year, and took the opportunity to introduce new employees’ families to Korean Re’s industry status and social role.
Following dinner, guests proceeded to the Concert Hall for the second part of the evening—the highly anticipated New Year’s Concert. The event featured a world-class performance led by conductor Jaap van Zweden and the Seoul Philharmonic Orchestra, captivating the audience with pieces such as Felix Mendelssohn’s “Italian” Symphony and Johann Strauss II’s “The Blue Danube.” The highlight of the night was a breathtaking performance of Jean Sibelius’s Violin Concerto by prodigy Seohyun Kim, earning resounding applause from the audience. The concert began on a solemn note, paying tribute to the victims of last year’s Muan Airport tragedy, with a moving rendition of Edward Elgar’s “Nimrod” from the Enigma Variations.
Korean Re Sponsors International Seminar on Climate Risk
Korean Re, in collaboration with the General Insurance Association of Korea, sponsored an international seminar on climate risk, jointly organized by the Korea Insurance Research Institute and Pohang University of Science and Technology (POSTECH). Under the theme “How can the insurance industry improve its climate risk management?”, the seminar took place on January 16, 2025 at the Conference Center of the Federation of Korean Industries.
In his welcome address, CEO Jonggyu Won emphasized that climate change is not merely a shift in weather patterns but a factor that increases the frequency and severity of natural disasters, significantly impacting the insurance industry. He stated, “Insurers are facing new challenges that go beyond traditional risk management approaches. In this evolving landscape, reinsurance plays a crucial role in risk diversification and providing stable loss management support.”
The seminar featured presentations by leading domestic and international scholars, offering in-depth insights into the current state of climate risk responses and the future direction of climate risk management frameworks.
As part of the discussions, Chunwoo Baek, General Manager of Korean Re’s Risk & Capital Solutions Team, delivered a presentation titled “The Impact of Climate Risk on the General Insurance Industry and Response Strategies: A Focus on Physical Risks.”
Korean Re’s New Employee Volunteer Group Builds Disaster-Resilient Housing in Indonesia
From February 16 to 21, Korean Re’s volunteer group carried out a housing construction initiative in Indonesia as part of its corporate social responsibility program. The overseas volunteer team, comprising 13 employees—including 10 newly hired staff—and two coordinators from Habitat for Humanity Korea, participated in reconstruction efforts in the city of Tangerang, Indonesia. Their work focused on building disaster-resilient homes for low-income residents, contributing to the improvement of living conditions in vulnerable communities.
This year, Korean Re’s overseas volunteer team concentrated on constructing housing designed to withstand natural hazards such as earthquakes and floods. The homes incorporated key structural elements to enhance durability and safety, including foot plates—foundation slabs installed where columns and structural elements are placed—and lintel beams positioned above doors and windows to support overall structural integrity.
The design also featured rainwater storage systems and energy-efficient ventilation to reduce electricity consumption by maximizing natural light and air circulation. These enhancements were thoughtfully adapted to the local environment, which is prone to frequent seismic activity and flooding.
Korean Re Hosts Client Reception in Bogotá
On April 3 (local time), Korean Re held a cocktail reception near its local office in Bogotá, Colombia. The event commenced with opening remarks by Korean Re CEO Jonggyu Won, and was attended by more than 50 guests, including representatives from the local insurance industry and financial authorities. CEO Won began his speech with a greeting in Spanish, underscoring Korean Re’s commitment to fostering cooperation between the insurance sectors of Korea and Latin America.
Since its establishment in February 2020, Korean Re’s Bogotá office has served as a strategic hub for operations across Latin America and the Caribbean. The recent reception was organized to further solidify Korean Re’s presence in the regional insurance market and to strengthen relationships with local partners.
As of 2023, the Latin American insurance market was valued at approximately USD 200 billion (KRW 285 trillion) and has recorded a growth rate exceeding 10% over the past five years. Despite this progress, insurance penetration remains relatively low. With continued expansion of the middle class and rising demand for digital insurance solutions, the region is widely regarded as having substantial growth potential.
Located at the heart of Latin America, Colombia offers convenient access to both the Latin American and Caribbean markets, making it a strategically important base for Korean Re’s operations. Building on the momentum of this event, Korean Re plans to actively pursue further expansion in the Latin American market and diversify its global portfolio.
Korean Re Relocates Headquarters to Signature Tower
Korean Re relocated its corporate headquarters for the first time in four decades. From April 11 to 13, the company successfully completed the transition to Signature Tower, situated near Cheonggyecheon in central Seoul. The former office in Susong-dong, which had served as the company’s headquarters since 1985, is now slated for redevelopment due to its aging condition.
In the lead-up to the move, Korean Re commemorated its 62nd anniversary on March 19 by organizing a company-wide group photo in front of the Susong-dong building, capturing a symbolic and historic moment for the company. During the anniversary ceremony, CEO Jonggyu Won delivered remarks acknowledging the commitment and dedication of employees throughout the years:
“It is because of our colleagues who quietly and faithfully carry out their responsibilities that we can look forward to this period away from Susong-dong—and to the era ahead in our new headquarters—with pride and optimism. I extend my sincere appreciation to all who have contributed to the legacy of our Susong-dong chapter. Let us embrace this new beginning with renewed ambition and determination.”
Korean Re Hosts International Client Marketing Events
From June 16 to 20, the International Treaty Team I hosted the inaugural “Korean Re Asia Valued Client Seminar.” Eight (re)insurance professionals from across Asia visited Korean Re to participate in sessions covering a broad range of topics, including the company’s underwriting policies, pricing tools, catastrophe (CAT) modeling, and an overview of the Korean insurance market. The program also featured cultural experiences such as on-site underwriting visits, a Bukchon city tour, the Nanta performance, and a kimchi-making workshop.
Separately, on June 3, the International Fac Team II organized the “Korean Re K-Pub” event in London, inviting local industry partners. The event concluded on a high note in a vibrant “K-Pub” setting, where lively K-Pop music created an upbeat and festive atmosphere.
Korean Re Participates in Population Awareness Relay Campaign
On June 18, Korean Re took part in the “Population Awareness Relay Campaign,” jointly organized by the Ministry of Health and Welfare and the Korea Human Resource Development Institute for Health and Welfare.
Under the slogan “A nation where children are happy, youth can nurture hope, and the elderly can live with fulfillment,” the campaign seeks to raise public awareness of demographic challenges such as low birth rates and population aging, and to encourage active participation from both public institutions and private enterprises through a relay format. CEO Jonggyu Won joined the initiative at the nomination of Byungrae Lee, Chairman of the General Insurance Association of Korea.
Korean Re recognizes the structural risks of demographic change and has sought to address the low birth rate by implementing family-friendly policies that support work–life balance.
The company offers various leave, sabbatical, and flexible work arrangements tailored to the different stages of employees’ lives—including marriage, childbirth, childcare, and family care. Korean Re also provides financial support for childbirth-related medical expenses, fertility treatments, egg freezing procedures, and incentives for families with multiple children.
Speaking about this subject, CEO Won stated, “The population issue is not only a matter of sustainability for the insurance industry but also a challenge directly linked to our collective survival. I hope that, through this campaign, the insurance sector can play a more active role in addressing low birth rates and an aging society.”
Korean Re Supports Mobile Housing for Self-Reliant Youth
From May 22 to 23, Korean Re employees participated in volunteer activities at the Habitat Builders School in Cheonan, Chungcheongnam-do, as part of the “Mobile Housing Support Project for Self-Reliant Youth.”
This initiative forms part of the company’s corporate social responsibility efforts in collaboration with Habitat for Humanity Korea. The Korean Re Volunteer Corps took part in building Haeihome, a Korean abbreviation for “Habitat Mobile Home,” which is designed to provide emergency shelter for disaster victims and to improve housing conditions for vulnerable populations.
The homes built by the Korean Re Volunteer Corps will be relocated to Yeonggwang, Jeollanam-do, where they will be provided to self-reliant youth and young people returning to farming communities. The initiative aims to support settlement in areas facing a population decline, while fostering independence and social networks among young residents.
Since 2013, Korean Re has partnered with Habitat for Humanity for 13 consecutive years to provide financial support and volunteer services for housing-vulnerable communities.
With the exception of the COVID-19 pandemic, employees have consistently participated in person each year, thereby enhancing the significance of the initiative. In the first half of this year alone, more than 40 employees joined three on-site volunteer activities.
2025 Toa Re – Korean Re Summit
Korean Re hosted the 2025 Toa Re Summit in Seoul from October 15 to 16, 2025. Jointly organized by Toa Reinsurance Company of Japan and Korean Re, the summit is an annual event held alternately by the two reinsurers to deepen mutual cooperation. First launched in 2001, this year marked the 20th edition of the summit, excluding the period during which it was suspended due to COVID-19.
The event brought together President Masaaki Matsunaga of Toa Re and other key representatives, who shared insights on the insurance markets of Korea and Japan, and reaffirmed their commitment to continued partnership.
In his opening remarks, CEO Jonggyu Won expressed his hope that “this occasion will further solidify the trust between the two companies and serve as an opportunity to strengthen the foundation of cooperation amid an increasingly uncertain environment.”
