AIA Korea has appointed Peter Chung as its new chief executive officer (CEO). Chung will commence his new role on Jan. 1 2020, subject to regulatory approval.
Chung has a good understanding of the Korea insurance market as he has been the chief strategy and marketing officer of AIA Korea from April 2016 to November 2017. In that role, he was instrumental in helping to launch AIA Vitality in Korea and securing a key strategic partnership with SK Group. Peter also played a pivotal role in developing a new customer strategy and launching innovative propositions to drive business growth.
Bill Lisle, regional chief executive of AIA Group, said, “We are proud to have Peter leading our operations in Korea. With his passion and track record of success spanning over 25 years across life insurance, technology and consulting, I am confident Peter will help us scale our business here to next level of growth and success.”
Most recently, Chung has been the regional business development director covering Thailand, Korea and group partnership distribution. In this position, he has provided strategic leadership to help those markets executive strategic priorities and business performance targets.
Prior to AIA, Chung held senior executive roles at Manulife Financial as Asia chief partnership officer and Asia head of strategy and corporate development.
Chung graduated from Western University (Canada) with a master of business administration (MBA) and University of Toronto (Canada) with a bachelor of commerce. He is a certified public accountant (CPA) and chartered accountant (CA).
Cha Tae-jin Cha, the current CEO of AIA Life, has decided to resign for personal reasons after 4 years of dedicated service to AIA.