Korean Re Participated in Invest K-Finance: Singapore IR 2023
Korean Re attended Invest K-Finance: Singapore IR 2023, an event jointly organized by a group of Korean financial companies along with the Financial Supervisory Service (FSS) in Singapore on May 9, 2023. This event was intended to attract foreign investments and support overseas expansion of domestic financial companies. Six financial companies including Korean Re worked together with the FSS to hold the event where a number of international investors were invited to discuss financial market developments in Korea and its future prospects. The IR event attracted approximately 200 investors, including investment portfolio managers and analysts from investment institutions based in Singapore. As the leading reinsurer in Korea, Korean Re promoted the Korean financial market and shared its experience and prospects through meetings with investors.
The event started with a keynote speech by Bok-Hyun Lee, the Governor of the FSS, followed by congratulatory remarks by Hoon Choi, the Korean Ambassador to Singapore and Ronald Ong, the Chairman of Morgan Stanley Southeast Asia. For a joint Q&A session, Governor Lee and CEOs of financial institutions participated as panelists to answer questions from investors. In answering a question about the outlook of the reinsurance market, CEO Jong-Gyu Won of Korean Re said, "The rising trend of reinsurance premiums will continue for a while due to a growing imbalance between capacity supply and demand in the reinsurance market. Regarding a question about the prospect of the coinsurance market, he said, "The market will become more vibrant as insurers are working to manage increased volatility in the wake of the implementation of IFRS 17 and K-ICS." After the joint session, each participating financial institution held individual IR meetings.
Korean Re also hosted a cocktail event in the evening to celebrate its 60th anniversary and introduce its new Corporate Identity (CI), with the presence of key figures and leaders in the financial and insurance industry. CEO Won said during this occasion that the Singapore branch is Korean Re’s third overseas presence and that it has served as a strong foothold for Korean Re to grow its business across the Southeast Asian market. He also said "Our success in Singapore has also helped us in great measure to continue our global expansion. In the face of domestic market saturation, we will continue to pursue overseas business expansion going forward."