Latest news with #HanwhaLife
Korea Herald
26-05-2025
- Business
- Korea Herald
Moody's lifts Hanwha Life to A1
Hanwha Life Insurance has been upgraded by global credit ratings agency Moody's, which cited the South Korean insurer's solid brand strength, strategic distribution network and improved profitability. The rating was raised to A1 from A2 with a stable outlook, the Seoul-based company said Monday. 'Hanwha Life is generating high contractual service margins through increased sales of guarantee products, backed by its strong brand franchise and sales capability,' Moody's said. The agency also noted the company's shift toward higher-margin products via its general agency arm, Hanwha Life Financial Service. The insurer's capital strength and sound asset-liability management were also key factors in the upgrade. Moody's said it expects Hanwha Life to maintain a stable K-ICS risk-based capital ratio, even amid interest rate volatility, by minimizing its duration gap through stable new business inflows and increased investment in long-term bonds. The move follows a similar upgrade by Fitch Ratings earlier this month, which raised Hanwha Life's rating to A+ from A, also with a stable outlook, further bolstering the global credibility of Korea's second-largest life insurer. 'Recognition from two of the world's top three credit rating agencies affirms Hanwha Life's competitiveness in global markets,' a company official said. 'We will continue to build trust with customers and investors as a leading Korean insurer.'
Korea Herald
09-05-2025
- Business
- Korea Herald
Fitch ups Hanwha Life to A+ with stable outlook
Fitch Ratings upgraded Hanwha Life Insurance's rating to A+ from A, with a stable outlook, citing the South Korean insurer's strong financial footing and solid profitability, 'The upgrade reflects Hanwha Life's strong capital position, underpinned by a substantial contractual service margin and strategic issuance of additional capital securities,' Fitch said Thursday, adding the firm's financial leverage remained sound despite multiple capital issuances. Fitch highlighted Hanwha Life's steady earnings performance, driven by a focus on high-margin, protection-type insurance products designed to reduce income volatility from capital-market swings. The agency also pointed to the insurer's favorable corporate profile, supported by its exclusive general agency subsidiary, Hanwha Life Financial Service, the largest general agency in Korea with over 31,000 agents. 'Our assessment reflects Hanwha Life's solid brand franchise, strong distribution capability and substantial operating scale compared with other life insurers in Korea,' Fitch said. Hanwha Life is the nation's second-largest life insurer by premium income. The ratings agency said Hanwha Life's proactive risk control stood out amid heightened market volatility, noting the firm has preemptively mitigated risks related to overseas investments and actively managed its asset-liability profile in anticipation of interest rate cuts. Fitch also flagged the company's ongoing overseas expansion as a positive, citing its efforts to diversify geographically through acquisitions. Last year, Hanwha Life posted a consolidated net profit of 866 billion won ($618 million), up 5 percent on-year, while its contractual service margin — a key gauge of an insurer's profitability — reached 9.1 trillion won. 'Fitch's upgrade affirms market confidence in our stable financial foundation, profitability and long-term asset-liability management strategy,' a Hanwha Life official said. 'We expect it will further strengthen trust among policyholders and investors in and out of Korea.'
Korea Herald
30-04-2025
- Business
- Korea Herald
Trump Jr. taps Korean tycoons in Seoul visit
Donald Trump Jr., the eldest son of US President Donald Trump, held a series of closed-door meetings with around 20 business leaders from Korean conglomerates on Wednesday, during a private visit at the invitation of Shinsegae Group Chairman Chung Yong-jin. According to industry sources, Trump Jr. met with business figures including Hanwha Group Vice Chairman Kim Dong-kwan, Hanwha Life President Kim Dong-won, Hanwha Hotels & Resorts Vice President Kim Dong-seon, Lotte Corp. Executive Vice President Shin Yoo-yeol, CJ Group Chair Lee Jae-hyun, LS Group Chairman Koo Ja-eun, Hanjin Group Chairman Cho Won-tae, Doosan Group Chairman Park Jeong-won and Naver founder Lee Hae-jin. Due to the sensitivity of the discussions, details of the meetings were kept strictly confidential. Major conglomerates met with Trump Jr. individually, while mid-sized enterprises took part in group meetings. The one-on-one meetings reportedly lasted between 30 minutes and one hour. Trump Jr.'s visit is not part of an official US government delegation, and he was not expected to meet with political or government officials, out of respect for White House guidance. He arrived in Seoul at around 6:25 p.m. on Tuesday via private jet at Gimpo Business Aviation Center and began his two-day visit with a dinner hosted by the Shinsegae chairman and his wife. It marks Trump Jr.'s first trip to Korea since August of last year and his first since the beginning of his father's second term as president. Experts say the visit could be a valuable opportunity for Korean conglomerates to deepen personal networks within US business and political circles, potentially yielding strategic synergies. '(Trump Jr.'s latest visit) offers a rare chance to explore how we can receive support in expanding our business presence in the US,' said Oh Il-sun, director at the CXO Research Institute. 'It's also about identifying mutual interests where both sides can achieve win-win outcomes.' An industry source, who requested anonymity, said, 'Key topics likely included trade challenges such as tariffs, as well as ways to boost bilateral investment and economic cooperation (between the US and Korea).' The source further speculated, 'Given the US interest in Korea's IT and shipbuilding industries, discussions may have touched on potential areas for negotiation and collaboration.'
Korea Herald
30-04-2025
- Business
- Korea Herald
Trump Jr. meets Korean tycoons in Seoul visit
Donald Trump Jr., the eldest son of US President Donald Trump, held a series of closed-door meetings with around 20 business leaders from Korean conglomerates on Wednesday, during a private visit at the invitation of Shinsegae Group Chairman Chung Yong-jin. According to industry sources, Trump Jr. met with business figures including Hanwha Group Vice Chairman Kim Dong-kwan, Hanwha Life President Kim Dong-won, Hanwha Hotels & Resorts Vice President Kim Dong-seon, Lotte Corp. Executive Vice President Shin Yoo-yeol, CJ Group Chair Lee Jae-hyun, LS Group Chairman Koo Ja-eun, Hanjin Group Chairman Cho Won-tae, Doosan Group Chairman Park Jeong-won and Naver founder Lee Hae-jin. Due to the sensitivity of the discussions, details of the meetings were kept strictly confidential. Major conglomerates met with Trump Jr. individually, while mid-sized enterprises took part in group meetings. The one-on-one meetings reportedly lasted between 30 minutes and one hour. Trump Jr.'s visit is not part of an official US government delegation, and he was not expected to meet with political or government officials, out of respect for White House guidance. He arrived in Seoul at around 6:25 p.m. on Tuesday via private jet at Gimpo Business Aviation Center and began his two-day visit with a dinner hosted by the Shinsegae chairman and his wife. It marks Trump Jr.'s first trip to Korea since August of last year and his first since the beginning of his father's second term as president. Experts say the visit could be a valuable opportunity for Korean conglomerates to deepen personal networks within US business and political circles, potentially yielding strategic synergies. '(Trump Jr.'s latest visit) offers a rare chance to explore how we can receive support in expanding our business presence in the US,' said Oh Il-sun, director at the CXO Research Institute. 'It's also about identifying mutual interests where both sides can achieve win-win outcomes.' An industry source, who requested anonymity, said, 'Key topics likely included trade challenges such as tariffs, as well as ways to boost bilateral investment and economic cooperation (between the US and Korea).' The source further speculated, 'Given the US interest in Korea's IT and shipbuilding industries, discussions may have touched on potential areas for negotiation and collaboration.'
Saudi Gazette
20-04-2025
- Sport
- Saudi Gazette
Hanwha Life Esports enters LCK 2025 as clear favorite after Media Day buzz
The ES TIMES — The 2025 LCK Regular Season Opening Media Day was held at the LCK Arena in Seoul, uniting coaches and star players from all ten competing teams for a preview of what promises to be a transformative season. The new format extends the season from March through September, moving toward a single, expanded campaign — a shift that demands deeper rosters and sustained performance. Spotlight on format changes and Fearless Draft This year's key rule changes include: The full implementation of the Fearless Draft system A ban on lane swaps Both updates are expected to drastically impact strategic decisions, particularly in jungle pathing and bottom lane execution. All eyes on Hanwha Life Esports The clear storyline from Media Day? Hanwha Life Esports is the team to beat. Eight out of ten participating teams pointed to Hanwha Life as the tournament favorite, thanks to its two major title wins in early 2025 and a reputation for tactical precision and consistency. While rival teams expressed optimism about their upgraded rosters, most acknowledged the sheer dominance of Hanwha Life heading into the season. Participating teams The event included representatives from: Gen.G T1 DRX DN FREAKS kt Rolster Nongshim RedForce BNK Esports OK Savings Bank Brion Dplus KIA Hanwha Life Esports Conversations focused on the need for adaptability, roster depth, and strategic stamina throughout the expanded season. A new structure for a new era The 2025 LCK season begins with a double round-robin format, followed by a triple round-robin stage after the Mid-Season Invitational. Organizers emphasized that this shift aims to increase competitive fairness while enhancing fan engagement. Beyond gameplay, this season is also seen as a turning point for the league's structure and financial model, as the LCK continues to evolve as a global esports powerhouse.
