| Peter Chung |
AIA Korea has appointed Peter Chung, director of regional business development covering Thailand and Korea, as its new CEO, the company said Friday.
Chung, who will replace outgoing CEO Cha Tae-jin, will take office on Jan. 1.
"I am pleased to take over the role and I will focus on leading AIA Life Korea to a new level of growth and success through the continued execution of strategic priorities," Chung told The Korea Times.
The company said that Chung has a good understanding of the Korea insurance market, an expertise gained after having served as the chief strategy and marketing officer at AIA Korea from April 2016 to November 2017.
He played a leading role in launching AIA Vitality in Korea and securing a key strategic partnership with SK, it added.
"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," said Bill Lisle, regional chief executive of AIA Group.
Prior to AIA, Chung held senior executive roles at Manulife Financial as Asia chief partnership officer and Asia head of strategy and corporate development.