Community Engagement and Empowerment
Korean Re has long been demonstrating what it means for a business to be good for society and the communities where it operates. There are several important areas that have long been at the core of our community support initiatives, such as home building and renovations, disaster recovery, sponsorships for arts and culture, and food sharing.
Caring for Our Close Neighbors
In 2021, we launched a scholarship program for teenagers from low income families in the Jongno District of Seoul to help them pursue their educational goals. The program is designed to support economically disadvantaged young students, and we believe that providing economic support to them will not only help build strong communities but also contribute to empowering the next generation to ensure a better tomorrow. We will remain committed to reducing the financial barriers among the youth in pursuit of the education opportunities they need and deserve.
Another new program that we started recently to support our close neighbors involved the strengthening of a social safety net in a community where Korean Re’s head office is based. Since 2020, we have provided financial support for the installation of fire prevention equipment or devices such as smoke detectors at places that are vulnerable to fires in the community. Our support was also intended to help people on welfare buy a government-sponsored personal accident insurance.
In addition, for the past 18 years, Korean Re employees have helped financially strapped families in Ihwa-dong, an inner city neighborhood close to Korean Re’s head office in Seoul. This annual charitable initiative is organized at the end of each year to help make the winter a little warmer for our neighbors. In 2021, we were not able to make door-to-door deliveries due to COVID-19, but made sure that packages of rice, noodles, kimchi, and other necessities were sent to single-parent households, elderly people living alone, and child education centers in the community.
Korean Re was honored with a Korea Sharing Award 2021, bestowed upon the company for its commitment to supporting the underprivileged in the community where it operates and advancing the public good within the community and beyond. The award is presented annually by the Minister of Health and Welfare to individuals and corporations that have made exemplary contributions to society. Korean Re won the award on the recommendation of the Seoul Metropolitan Government and the Jongno District Office.
Caring for Our Close Neighbors
In 2021, we launched a scholarship program for teenagers from low income families in the Jongno District of Seoul to help them pursue their educational goals. The program is designed to support economically disadvantaged young students, and we believe that providing economic support to them will not only help build strong communities but also contribute to empowering the next generation to ensure a better tomorrow. We will remain committed to reducing the financial barriers among the youth in pursuit of the education opportunities they need and deserve.
Another new program that we started recently to support our close neighbors involved the strengthening of a social safety net in a community where Korean Re’s head office is based. Since 2020, we have provided financial support for the installation of fire prevention equipment or devices such as smoke detectors at places that are vulnerable to fires in the community. Our support was also intended to help people on welfare buy a government-sponsored personal accident insurance.
In addition, for the past 18 years, Korean Re employees have helped financially strapped families in Ihwa-dong, an inner city neighborhood close to Korean Re’s head office in Seoul. This annual charitable initiative is organized at the end of each year to help make the winter a little warmer for our neighbors. In 2021, we were not able to make door-to-door deliveries due to COVID-19, but made sure that packages of rice, noodles, kimchi, and other necessities were sent to single-parent households, elderly people living alone, and child education centers in the community.
Korean Re was honored with a Korea Sharing Award 2021, bestowed upon the company for its commitment to supporting the underprivileged in the community where it operates and advancing the public good within the community and beyond. The award is presented annually by the Minister of Health and Welfare to individuals and corporations that have made exemplary contributions to society. Korean Re won the award on the recommendation of the Seoul Metropolitan Government and the Jongno District Office.
Supporting People with Disabilities
Since 2011, Korean Re has also been sponsoring the Eden Welfare Foundation, which was established to support people with mental and physical disabilities and to help improve their living standards by providing them with job opportunities. Specifically, our support comes in the form of rice donations, helping the foundation provide food to its members.
We began sponsoring the Seoul Rehabilitation Center for the Cerebral Palsied in February 2020. The center was established in 1990 to support those suffering from cerebral palsy and assist them in improving their quality of life. Of particular note, the financial resources we contributed were used for purchasing specialty medical beds for cerebral palsy patients.
Participating in a Suicide Prevention Program
Korean Re also signed an MOU with the Korea Association for Suicide Prevention in September 2020 to support a suicide prevention program for high school students. Korea has the highest suicide rate among OECD members, and suicide is the leading cause of death among teenagers. Recognizing the severity of suicide and mental health issues in Korea, we will continue to sponsor the program with a view to reducing suicides and suicide attempts among young students and raising awareness of suicide prevention and early intervention.
Volunteering to Help Build Houses for People in Need
Since 2013, Korean Re has been taking part in the Building Homes of Hope initiative in partnership with Habitat for Humanity Korea to support families living in poor housing conditions. Over the past nine years, our employees have participated in a number of home-building projects, helping to address people’s need for safe and stable housing in many communities across the nation. In 2021, we could not participate in any home-building projects for two years in a row due to concerns about the health of volunteering employees during the pandemic. Still, we continued to make financial contributions in support of such projects over this period.
Sponsoring Arts and Cultural Programs
Arts and culture are another important area of focus in our social contribution activities, as we at Korean Re believe that arts and culture can be a powerful agent of community development. Since entering into a sponsorship agreement with the Miral Welfare Foundation in 2017, Korean Re has continued to support a cello ensemble named Wing, which is comprised of 20 autistic or intellectually challenged children and teenagers.
Korean Re has committed KRW 120 million every year to the ensemble so that these young cello players can communicate with the world through music. Our annual donation of funds has been used to pay for lessons and instrument repairs, as well as to organize concerts.
Moreover, Korean Re has become a member of the Korea Mecenat Association, a non-profit organization dedicated to supporting arts and culture in communities. Through this membership, we have started to sponsor cultural outreach programs organized by the association. Moving forward, we will continue to work in partnership with the association to promote social development through arts and culture and help increase access to diverse arts and cultural activities among socially and economically marginalized individuals.
Sponsoring Arts and Cultural Programs
Arts and culture are another important area of focus in our social contribution activities, as we at Korean Re believe that arts and culture can be a powerful agent of community development. Since entering into a sponsorship agreement with the Miral Welfare Foundation in 2017, Korean Re has continued to support a cello ensemble named Wing, which is comprised of 20 autistic or intellectually challenged children and teenagers.
Korean Re has committed KRW 120 million every year to the ensemble so that these young cello players can communicate with the world through music. Our annual donation of funds has been used to pay for lessons and instrument repairs, as well as to organize concerts.
Moreover, Korean Re has become a member of the Korea Mecenat Association, a non-profit organization dedicated to supporting arts and culture in communities. Through this membership, we have started to sponsor cultural outreach programs organized by the association. Moving forward, we will continue to work in partnership with the association to promote social development through arts and culture and help increase access to diverse arts and cultural activities among socially and economically marginalized individuals.
Taking Part in International Relief Activities
As a reinsurer aiming to become a global leader, Korean Re also cares for people and communities outside of Korea. In this regard, we have been partnering with various international organizations to engage in relief and advocacy programs. For instance, we have started to work with WorldShare, a non-governmental organization that promotes international relief and development. We have supported its work to renovate a local child welfare center in Vietnam and provided 2,500 children’s books to the center.
In India, we have participated in a program to support people with leprosy, also known as Hansen’s disease, through IT Medical Mobilization, a medical volunteer organization. The support program is aimed at helping those suffering from leprosy receive medical treatment and providing them with medical aid kits.
In addition, Korean Re has joined the Asia Guarantee & Credit Insurance Association. Together we support a wide range of international exchange programs and educational activities organized by the association, which is a community established with the vision of promoting guarantee and credit insurance services throughout Asia, thereby contributing to the economic advancement and overall welfare of people across the region.
On top of those engagements, since 2014, Korean Re has sent a group of employees primarily composed of new hires to the typhoon-hit community of Ayutthaya, Thailand to support its recovery from the natural disaster. In particular, we took part in projects that built houses for those who live in poor housing conditions.
In 2020 and 2021, we were not able to send our volunteer team to Thailand due to the pandemic, but our commitment to international disaster relief efforts remains rock solid. If conditions permit in the future, we will continue to implement our international corporate volunteer program to support the rehabilitation of communities devastated by natural disasters.
(Re) insurance is all about helping people, communities, and businesses in times of distress and protecting them against unexpected events. This is what Korean Re is committed to doing. We will continue to do good things for society and live up to our corporate social responsibility, while doing good business to support our clients and stakeholders.
Taking Part in International Relief Activities
As a reinsurer aiming to become a global leader, Korean Re also cares for people and communities outside of Korea. In this regard, we have been partnering with various international organizations to engage in relief and advocacy programs. For instance, we have started to work with WorldShare, a non-governmental organization that promotes international relief and development. We have supported its work to renovate a local child welfare center in Vietnam and provided 2,500 children’s books to the center.
In India, we have participated in a program to support people with leprosy, also known as Hansen’s disease, through IT Medical Mobilization, a medical volunteer organization. The support program is aimed at helping those suffering from leprosy receive medical treatment and providing them with medical aid kits.
In addition, Korean Re has joined the Asia Guarantee & Credit Insurance Association. Together we support a wide range of international exchange programs and educational activities organized by the association, which is a community established with the vision of promoting guarantee and credit insurance services throughout Asia, thereby contributing to the economic advancement and overall welfare of people across the region.
On top of those engagements, since 2014, Korean Re has sent a group of employees primarily composed of new hires to the typhoon-hit community of Ayutthaya, Thailand to support its recovery from the natural disaster. In particular, we took part in projects that built houses for those who live in poor housing conditions.
In 2020 and 2021, we were not able to send our volunteer team to Thailand due to the pandemic, but our commitment to international disaster relief efforts remains rock solid. If conditions permit in the future, we will continue to implement our international corporate volunteer program to support the rehabilitation of communities devastated by natural disasters.
(Re) insurance is all about helping people, communities, and businesses in times of distress and protecting them against unexpected events. This is what Korean Re is committed to doing. We will continue to do good things for society and live up to our corporate social responsibility, while doing good business to support our clients and stakeholders.
Investment in Our People and Culture
A Positive Working Environment
Ensuring a healthy and positive working environment is not only the right thing to do for our employees, but also an essential element of our business success. It encourages creativity and a sense of belonging among employees and helps them perform at their best professionally. In this respect, Korean Re is committed to promoting a corporate culture that values a healthy work-life balance for our employees.
Korean Re has implemented diverse measures to help employees maintain a healthier state of mind and body. Since 2019, “Refresh Vacation” has been provided to long-term employees, allowing them to take time off for about a month while being supported financially by the company. After taking advantage of this time away, our colleagues can come back to work refreshed and then focus more productively on their jobs.
Furthermore, our policy for employees with young children allows them to use flexible working hours so that they can better manage their childcare and family life. “PC-Off” is another program we have established to help our employees achieve a greater work-life balance. Korean Re upholds the belief that employees with a greater work-life balance tend to feel more motivated, become more productive, and feel less stressed out at work.
A Positive Working Environment
Ensuring a healthy and positive working environment is not only the right thing to do for our employees, but also an essential element of our business success. It encourages creativity and a sense of belonging among employees and helps them perform at their best professionally. In this respect, Korean Re is committed to promoting a corporate culture that values a healthy work-life balance for our employees.
Korean Re has implemented diverse measures to help employees maintain a healthier state of mind and body. Since 2019, “Refresh Vacation” has been provided to long-term employees, allowing them to take time off for about a month while being supported financially by the company.
After taking advantage of this time away, our colleagues can come back to work refreshed and then focus more productively on their jobs.
Furthermore, our policy for employees with young children allows them to use flexible working hours so that they can better manage their childcare and family life. “PC-Off” is another program we have established to help our employees achieve a greater work-life balance. Korean Re upholds the belief that employees with a greater work-life balance tend to feel more motivated, become more productive, and feel less stressed out at work.
Training and Development
Korean Re spent KRW 2.7 million on training and development per employee in 2021. Employee training is one of the most important investments a business can make. Korean Re is dedicated to helping our employees at all stages of their career grow and develop continuously. Our investment in people aims to enable them to improve their job performance and gain insight into what and how they should do at work.
Korean Re has a wide range of training programs available for employees who want to develop both in their current roles and future careers. These programs take various forms, including competence-building workshops, foreign language training, lectures by outside experts, classroom training, on-the-job training, and self-study groups.
Since 2020, COVID-19 has changed the way employees are trained and educated. The existing offline programs were made accessible via online attendance. Under this new online training initiative, employees at Korean Re can take one educational course every month. Around 760 subjects/courses are available, including economics, business administration, finance, accounting, and foreign languages.
In addition, international training opportunities are provided to our employees in partnership with outside expert institutes, which offer virtual programs and customized content. A select group of employees are also sent to our overseas offices for training purposes or given an opportunity to study at an overseas academic institute.
Korean Re employees are also encouraged to study for professional qualifications that help improve their job skills and benefit the company’s business operations. By providing these various training opportunities, we will continue to help our people effectively fulfill their job responsibilities and build their careers. At the same time, we will make sure that training goals are well aligned with business needs and objectives to have a positive impact on our organization as a whole.
Training and Development
Korean Re spent KRW 2.7 million on training and development per employee in 2021. Employee training is one of the most important investments a business can make. Korean Re is dedicated to helping our employees at all stages of their career grow and develop continuously. Our investment in people aims to enable them to improve their job performance and gain insight into what and how they should do at work.
Korean Re has a wide range of training programs available for employees who want to develop both in their current roles and future careers. These programs take various forms, including competence-building workshops, foreign language training, lectures by outside experts, classroom training, on-the-job training, and self-study groups.
Since 2020, COVID-19 has changed the way employees are trained and educated. The existing offline programs were made accessible via online attendance. Under this new online training initiative, employees at Korean Re can take one educational course every month.
Around 760 subjects/courses are available, including economics, business administration, finance, accounting, and foreign languages.
In addition, international training opportunities are provided to our employees in partnership with outside expert institutes, which offer virtual programs and customized content. A select group of employees are also sent to our overseas offices for training purposes or given an opportunity to study at an overseas academic institute.
Korean Re employees are also encouraged to study for professional qualifications that help improve their job skills and benefit the company’s business operations. By providing these various training opportunities, we will continue to help our people effectively fulfill their job responsibilities and build their careers. At the same time, we will make sure that training goals are well aligned with business needs and objectives to have a positive impact on our organization as a whole.
