He takes up the post on 1 September, leading the rollout of AI initiatives across the region and building the data platforms and governance needed to support their adoption.
More than 80% of insurers have already met OJK's 2026 requirements, but experts say capital alone will not fix weak fundamentals as tougher 2028 rules loom.
Bank is considering raising its holding in the life insurer to 30%, after RBI rule changes opened the door for larger bank investments in insurance companies.
Surrender payouts and reserve requirements are climbing at both life and non-life insurers, raising questions over whether households are trading long-term protection for short-term liquidity.
Draft amendments would allow qualifying institutional investors to increase their shareholding in the same bank without seeking repeated regulatory approvals.
Separating facility ownership from operations and linking insurance products with care services could help insurers develop Korea's mid-priced long-term care market, KIRI said.
