Kyobo CEO Shin says, ‘We will raise capital through IPO to boost profitability’
Kyobo CEO Shin says, ‘We will raise capital through IPO to boost profitability’
  • Lee Kap-soo
  • 승인 2020.01.06 11:12
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Shin Chang-jae, CEO of Kyobo Life Insurance

Shin Chang-jae, CEO of Kyobo Life Insurance, which decided on the IPO in the second half of this year, pledged that the company will boost its profitability through smooth capital procurement.

"We will raise capital smoothly through public disclosure that will be the second founding and an epochal inflection point," said CEO Shin in his New Year address on Jan. 2. "We will continue to improve our business structure by enhancing profitability."

Late last year, Kyobo Life decided on an IPO for the second half of this year. "We will actively invest in areas for future growth such as digital innovation with the capital raised through corporate disclosure," Shin said. "We expect that this will help insurance businesses as well as enhance market confidence."

Shin stressed that he should fulfill his responsibilities, saying that the listing increases the number of stakeholders and the company’s responsibilities also expand. He added that the company should continue to improve its business constitution as it is constantly evaluated by the market and domestic and foreign investors.

In response, he proposed "strengthening competitiveness of product channels centered on customers and fields" as the management policy for this year. To that end, he suggested strengthening the responsiveness of insurance products and customer contact services.

“This year, the company has set targets for jobs centered on private markets, wealthy businessmen, strong small businesses and growth areas, focusing on housewives, working mothers of preschoolers and those without health insurance,” he said, adding that it will provide goods and services that meet the demand.

In addition, Shin said, “The insurer will accelerate digital innovation. Existing face-to-face operations are not enough so that it will increase efficiency by applying digital technology to all insurance processes ranging from subscription to maintenance and payment.”

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