Ng Keng Hooi, group chief executive and president of AIA, the largest pan-Asian life insurance group, met with SK Group chairman Chey Tae-won on May 9 to discuss their cooperation in “creating shared value and strengthening social value."
The two CEOs met at SK Telecom headquarters in Seoul for an in-depth discussion on their common corporate philosophy of “corporate social responsibility” and “creating shared value for the local community.” The two exchanged various ideas for mutual cooperation towards the goal of strengthening social value and also discussed ways to solve imminent social issues they currently face in each respective environment.
The AIA Group chief executive is widely known for investing heavily in building an ecosystem, a shared value-creating business model based on AIA Vitality service, to benefit consumers, companies, partners and local communities.
SK chairman Chey has long emphasized the importance of corporate social responsibility. He previously talked about the role of corporations in pursuing sustainable social values at the Davos Forum in January 2019.
The meeting of the two CEOs was possible not only because they share a common corporate philosophy, but also because AIA Korea, SK Telecom and SK Holdings C&C are in an important strategic partnership in operating the AIA Vitality X T Health Walking service. Together with SK Telecom and SK Holdings C&C, AIA Korea launched the AIA Vitality X T Health Walking application in August 2018, which continues to be popular, with the number of subscribers exceeding 1 million as of April 2019.
AIA Korea spokesperson commented, “The meeting of the two CEOs has been a valuable opportunity where two companies discussed ways to collaborate in contributing to the local communities and creating social values not only in Korea but also in other Asian countries where they operate their businesses.” He added, “With both CEOs sincerely looking to share social values with all the stakeholders, we hope to put forward more proactive action plans for the future.”