The Korea Insurance Agents Association, the trade body for the country’s general agency (GA) channel, said Song Jae-keun began his term as standing vice chairman on 1 Sep.
Members elected Song by written resolution at a general meeting held from 10 to 13 Aug. His two-year term runs to 31 Aug 2028.
Song is the first Financial Services Commission alumnus to hold the post. He joined the Ministry of Finance in 1988 and later headed the personnel team in the FSC’s administrative innovation division and served as a division director and audit officer at the Korea Financial Intelligence Unit.
He was an executive director of the Korea Life Insurance Association from 2016 to 2020 and business chief executive of the National Credit Union Federation of Korea from 2020 to 2024. Born in 1962, he holds a degree in German from Dankook University and a master’s in finance and insurance from Yonsei University.
The association said it will draw on his policy background to strengthen communication with financial authorities on consumer protection and internal controls.
“Based on the experience and networks I have built across both the private and public sectors over 36 years, I will communicate actively with financial authorities and related institutions to promote the sound development of the GA industry,” Song said.
The GA channel has been under regulatory scrutiny in South Korea, with the data protection authority investigating breaches at two insurance general agencies last year.
The FSS has separately pressed the industry on distribution quality, noting that licensed agent numbers rose 7.8% in 2024 while only 46.3% of policies remained active after five years.
