Early Life
Shin Chang-jae was born in Seoul, South Korea, in either 1953 or 1954. He is the son of Shin Yong-ho, who founded Kyobo Life Insurance in 1958. Shin attended Seoul National University, where he received a doctorate. Before entering the business world, he trained as an obstetrician and worked as a professor at Seoul National University Medical School.
Rise to Success
Shin Chang-jae's career took a significant turn in 1996 when he became the vice chairman of Kyobo Life Insurance, eventually succeeding his father as Chairman and CEO in 2000. At that time, Kyobo was struggling financially due to the Asian financial crisis. Under Shin's leadership, Kyobo Life focused on risk management and customer satisfaction, and the company rebounded and became the third-largest life insurer in South Korea. His transformation of Kyobo Life included initiating an enterprise business transformation to achieve financial stability.
Key Business Strategies
Shin Chang-jae's management style is known for being cautious but effective. He has emphasized "human-centered stakeholder relationship management". He has focused on digital transformation for sustainable growth. Shin also implemented a culture of open communication within Kyobo Life, including a system where employees use English nicknames.
Philanthropy
Shin is involved in philanthropic activities through the Daesan Foundation, which promotes cultural initiatives.