The Boram Group has announced the appointment of Kim Gi-tae, co-CEO of Boram Sangjo Life (leading Boram Group's GA business), as co-CEO of Boram Sangjo Leaders. CEO Kim’s appointment will be officially confirmed at the shareholders' meeting in March following a board resolution. He will simultaneously hold the position of co-CEO at both Boram Sangjo Life and Boram Sangjo Leaders.
CEO Kim is an expert who has worked in the insurance industry for over 20 years since 1984 and has been involved in the funeral service industry since 2005. He joined Boram Sangjo Life as CEO in 2021 and was recognized for his abilities, rising to head the Boram Group's GA business. The Boram Group assessed, "CEO Kim is the right person to lead the group’s mid- to long-term growth based on his rich field experience and sales know-how."
Intense competition is expected in the domestic funeral service market due to the expansion of existing companies and the entry of corporations from other sectors. In response, the Boram Group is positioning itself as a total life care service corporation to strengthen profitability and build a sustainable business model. With the appointment of the new CEO, the group plans to enhance collaboration among its subsidiaries and maximize its competitive edge.
In addition, the Boram Group is positioning 'Boram 550' as a key strategic product to boost market competitiveness across the group. Boram 550, the flagship offering of Boram Sangjo Life, is marketed through a nationwide GA (General Agency) sales network in a B2B format. Going forward, Boram 550 plans to expand its sales channels across the group to further enhance its market position.
CEO Kim will oversee the nationwide GA sales network and concentrate all efforts on creating synergy. He noted, "Based on the experience and capabilities I have built up over the past 40 years in the insurance and funeral service industries, I will dedicate myself to the group", and added, "I will fulfill my role to ensure that the Boram Group can leap forward as a leading corporation in the industry and as a total life care service corporation".