Early Life
Shin Chang-jae was born in Seoul on October 31, 1953. He is the eldest son of Shin Yong-ho, the founder of Kyobo Life Insurance. Shin attended Gyeonggi High School and later graduated from Seoul National University's College of Medicine with a doctorate. He then became an obstetrician and worked as a professor at Seoul National University Hospital for 17 years.
Rise to Success
Shin initially had no intention of entering the business world. He declined his father's offer to study business overseas, choosing instead to pursue a medical career. However, in 1996, he joined Kyobo Life as Vice Chairman and took over as Chairman and CEO in 2000. At the time, Kyobo was facing difficulties following the Asian financial crisis. Under Shin's leadership, the company focused on customer satisfaction and risk control, transforming it into a leading life insurer.
Key Business Strategies
Shin's management style is described as cautious, valuing open communication with employees. He initiated a 'Change Management' program to transform the business, shifting the focus to qualitative growth. Shin has also emphasized ethical and human-centered management, fostering a culture of shared growth with stakeholders. He is also pushing ahead with plans for an initial public offering (IPO).
Philanthropy
Shin's father, Shin Yong-ho, established the Daesan Cultural Foundation. Kyobo Life Insurance has been recognized for its efforts in ESG management, making significant investments in socially responsible initiatives.
