KOREA WHO
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Chairman of the General Insurance Association of Korea
Lee Byung-rhae
A Financial Policy Expert from Bureaucracy, Expected to Bridge Between Government and Industry
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Last Updated on Sep 2, 2024
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Chairman of the General Insurance Association of Korea
Copy Url : https://www.koreawho.com/profile/LeeByungrhae- Life Summary
Lee Byung-rhae is the Chairman of the General Insurance Association of Korea.
He faces the task of supporting the stable implementation of the electronic claims processing system for indemnity health insurance, as well as enhancing the management of non-covered medical services and improving product structures.
He is committed to helping non-life insurance companies strengthen their product and service competitiveness and create new revenue streams by responding to rapid demographic changes such as aging and digital transformation, and by promoting overseas expansion.
Lee Byung-rhae was born on May 5, 1964, in Seosan, Chungnam Province.
He graduated from Daejeon High School and earned a degree in Trade from Seoul National University. He also holds a Master's degree in Public Administration from Seoul National University Graduate School of Public Administration and a Ph.D. in Economics from the University of Missouri, USA.
He passed the 32nd Administrative Examination and worked at the Ministry of Finance in various roles, including the International Financial Institutions Division of the International Finance Bureau, the Capital Market Division of the Securities Bureau, and the Vice Minister’s Office. After studying in the United States, he continued his career at the Financial Supervisory Commission.
At the Financial Services Commission, he served as the Insurance Division Director, Financial Policy Division Director, Advisor to the Governor of the Central Bank of Mongolia, and Spokesperson. He was also the Director of the Financial Intelligence Unit and later appointed as the CEO of the Korea Securities Depository.
After serving as the Vice President of External Affairs at the Korea Institute of Certified Public Accountants, he was appointed as the 55th Chairman of the General Insurance Association of Korea in December 2023.
He is a financial policy expert with nearly 30 years of experience working in financial policy-making institutions.
#LeeByungrhae #GeneralInsuranceAssociation #financialpolicy #nonlifeinsurance #digitaltransformation #indemnityinsurance #productcompetitiveness #overseasexpansion #KoreaSecuritiesDepository #financialexpert
He faces the task of supporting the stable implementation of the electronic claims processing system for indemnity health insurance, as well as enhancing the management of non-covered medical services and improving product structures.
He is committed to helping non-life insurance companies strengthen their product and service competitiveness and create new revenue streams by responding to rapid demographic changes such as aging and digital transformation, and by promoting overseas expansion.
Lee Byung-rhae was born on May 5, 1964, in Seosan, Chungnam Province.
He graduated from Daejeon High School and earned a degree in Trade from Seoul National University. He also holds a Master's degree in Public Administration from Seoul National University Graduate School of Public Administration and a Ph.D. in Economics from the University of Missouri, USA.
He passed the 32nd Administrative Examination and worked at the Ministry of Finance in various roles, including the International Financial Institutions Division of the International Finance Bureau, the Capital Market Division of the Securities Bureau, and the Vice Minister’s Office. After studying in the United States, he continued his career at the Financial Supervisory Commission.
At the Financial Services Commission, he served as the Insurance Division Director, Financial Policy Division Director, Advisor to the Governor of the Central Bank of Mongolia, and Spokesperson. He was also the Director of the Financial Intelligence Unit and later appointed as the CEO of the Korea Securities Depository.
After serving as the Vice President of External Affairs at the Korea Institute of Certified Public Accountants, he was appointed as the 55th Chairman of the General Insurance Association of Korea in December 2023.
He is a financial policy expert with nearly 30 years of experience working in financial policy-making institutions.
#LeeByungrhae #GeneralInsuranceAssociation #financialpolicy #nonlifeinsurance #digitaltransformation #indemnityinsurance #productcompetitiveness #overseasexpansion #KoreaSecuritiesDepository #financialexpert
- Life Summary
- Career Highlights & Challenges
- · Actively Participating in Combating Insurance Fraud to Enhance Industry Trust
- · Driving Digital Transformation to Enhance Insurance Competitiveness
- · Supporting Enhanced Product Competitiveness in Response to Aging Population
- · Supporting Inclusive Finance through Social Contribution Activities
- · Appointed as Chairman of the General Insurance Association
- · Successfully Established the Electronic Securities System at Korea Securities Depository
- · Advanced the Korea Securities Depository's Electronic Voting System
- · Introduction of Fintech and Crowdfunding at Korea Securities Depository
- · Chairman Activities in Global Depository Associations
- · During Tenure as Standing Commissioner of the Securities and Futures Commission and Director of the Financial Intelligence Unit
- · During His Time at the Financial Services Commission
- Vision and Goals
- Market and Social Evaluation
- Notable Incidents & Legal Affairs
- - Criticism of Securities Trading System During Lee Byung-rhae's Tenure at Korea Securities Depository
- - Parachute Appointment Controversy
- - Controversy Over the Sale of the Korea Securities Depository's Ilsan Center
- - Controversy over the 'Trick' Reduction of Foreign Securities Settlement Fees
- - Abolition of the Performance-Based Pay System
- Professional Timeline
- Educational Background
- Family & Personal Connections
- Awards & Recognitions
- Additional Information
- Notable Quotations
- Infographic & Photos