Korean Re’s 2019 New Year’s Concert
On January 10, 2019, and in celebration of the New Year, Korean Re hosted a dinner party, followed by an annual concert of classical music performed by the Seoul Philharmonic Orchestra. All the employees and their families were invited to a New Year’s party where CEO Jong- Gyu Won expressed his appreciation to everyone for their hard work and support throughout the year, saying, “We have come through a year that was filled with difficult challenges, but each and every one of you worked tirelessly in your respective positions. I sincerely thank you all for your great work.”
The annual function also served as a welcoming party for new employees, and they shared their feelings and thoughts as they were about to embark upon a new career. They also delighted the audience with their dance performances, which made the event all the more enjoyable.
The classical music performance was the highlight of the night. The Seoul Philharmonic Orchestra, conducted by Soo Yeoul Choi, performed Beethoven’s Concerto for Violin, Cello and Piano in C major, Op. 56 (the Triple Concerto)—the only concerto the composer ever completed for more than one solo instrument. The concert culminated with Symphony No.9 in E minor, “From the New World”, one of the most popular symphonies composed by Antonín Dvořák.
Charitable Donation for a Regional Trauma Center
Korean Re signed a donation agreement with Ajou University Medical Center on January 28, 2019 to donate funds for the cause of improving local health care services. We initially pledged to donate KRW 50 million for 2019 to the regional trauma center of the hospital dedicated to providing care for patients suffering from major traumatic injuries from accidents like motor vehicle collisions and falls. Regional trauma centers are open 24/7 and play a critical role in saving the lives of patients in critical condition.
During the signing ceremony, CEO Jong- Gyu Won stressed the value of reinsurance in terms of its role in helping to ensure public safety and reinforce the social safety net, saying, “We are pleased to be a part of efforts to improve access to quality life-saving care services provided by the regional trauma center.” The funds we donate will be used for purchasing medical equipment and supporting patients from low-income families.
The 8th Korean Re Risk Management Seminar
Korean Re held its 8th Risk Management Seminar on March 29, 2019. Risk management officials and property/engineering underwriters from local insurers gathered to discuss various risk management issues. The seminar was attended by roughly 100 people from a number of insurers, businesses, and associations.
This year, four expert speakers from the insurance industry—and other industries—delivered presentations on different topics, including the maintenance and safety inspection of the Energy Storage System (ESS), analysis of loss events arising from ESS and related countermeasures, fire preventative features of finishing materials of construction structures and testing methods for such features, and major property loss cases in 2018. The annual seminar, which was launched in 2012, aims to provide participants with the opportunity to learn about risk factors, loss events, and risk management practices in specific industry sectors, as well as to share information and ideas about related issues.
The 38th Korean Re Seminar
We hosted the 38th Korean Re Reinsurance Management Seminar (Korean Re Seminar) from May 12 to 17, 2019. The opening ceremony was held at our head office in Seoul on May 13. CEO Jong-Gyu Won said during his opening remarks that Korean Re takes great pride in the 38-year-old seminar, whose standing in the (re)insurance industry is rising annually.
This year, 21 insurance professionals from 21 insurers in 16 jurisdictions were invited to the seminar, where the latest market trends and issues were discussed. Among the countries represented were Bolivia, Canada, China, India, the Netherlands, Thailand, Turkey and the United Kingdom.
During the seminar, Korean Re employees gave presentations on the company’s underwriting techniques and major developments in the Korean insurance market, as well as an analysis of large-loss events over recent years. Field trips to local industrial sites were also arranged to help participants gain a better understanding of underwriting practices that Korean Re had shared at the seminar. There were other sessions, such as lectures on the latest insurance market issues, and a cultural program that gave participants the opportunity to enjoy and experience Korean culture firsthand.
The Korean Re Seminar was launched in 1979 as a platform for the exchange of information and discussions on key issues in the global insurance industry. Since then, this annual event has been attended by more than 620 professionals from over 250 insurance companies. It is now widely recognized among insurance market participants as one of the most prestigious reinsurance seminars in Asia.
Celebrating the 50th Anniversary of Korean Re’s Tokyo Liaison Office
In celebration of the 50th anniversary of the opening of Korean Re’s Tokyo Office, Korean Re held a ceremony on September 30, 2019 at the Imperial Hotel Tokyo. This event was attended by 200 participants, from partners to clients. The Tokyo Office has now grown to become one of Korean Re’s most important and vibrant overseas offices, with the longest history of all our overseas office.
The half-century journey of relentless efforts to be a trusted partner in the Japanese insurance market has successfully enabled the Tokyo Office to have made tremendous achievements over the years. This endeavor will continue under the mission of “We serve to protect your future,” and contribute to drive business growth for our clients and partners going forward.
Building Homes of Hope
Habitat for Humanity Korea has welcomed volunteers from Korean Re this year yet again. Over the course of the last seven years, we have been actively participating in the program, with 110 of our employees having taken part in Habitat for Humanity Korea’s mission to foster strength, stability and self-reliance through shelter for underprivileged people.
CEO Jong-Gyu Won and a group of Korean Re employees volunteered to help build a series of residences called “Homes of Hope” in the village of Mokcheon, South Chungcheong Province from September 17 to 18, 2019. This year’s project mostly involved cement siding that was required for heat insulation as part of interior and exterior finishing work for the “Hope and Dream House,” which is scheduled to welcome new families at the end of the year.
Korean Re has continued to partner with Habitat for Humanity Korea by both participating in homebuilding projects and making gradually increased donations for the past seven years in a row to improve the quality of life in the communities across the nation. This year alone, we made a donation of KRW 130 million to Habitat for Humanity Korea.
Korean Re will stay committed to being the helping hands of the community by giving back to society and improving the living standards of the underserved. On this subject, CEO Jong Gyu Won has said, “The core value of insurance goes back to the idea of helping each other when in need, so this will serve as a good opportunity for us to experience the spirit of sharing and helping others.”
Celebrating the 40th Anniversary of Korean Re’s Singapore Branch
In celebration of the 40th anniversary of our Singapore branch, Korean Re hosted a cocktail party for its clients on the sidelines of the Singapore International Reinsurance Conference (SIRC), which was held from October 29 to November 1, 2019. In the toast speech, CEO Jong-Gyu Won expressed his deep appreciation to more than 300 clients attending the event that day for the 40-year journey built upon a strong partnership, and wished continued success in its future endeavors for sharing prosperity together with loyal supporters of Korean Re. Since January 1979, the Singapore branch has been able to establish a strong foothold in the Southeast Asian market through a broad network of clients, solid brand power, and a highly respected reputation.
