Korean Re Opens India Branch to Build Its Local Business in GIFT City

Korean Re established its India branch in Gujarat International Finance Tec-City (GIFT City), an international financial hub in Gujarat State, and held an official opening ceremony there on January 20.

About 150 guests attended the ceremony, including Dongwan Yoo, Consul General of the Republic of Korea in Mumbai, officials from Indian financial authorities and senior figures from the local insurance industry, who gathered to celebrate the launch of Korean Re’s India branch.

At the ceremony, President and CEO Jong Gyu Won said, “India is a core market with significant growth potential,” adding that Korean Re would continue to expand its overseas inward reinsurance business and strengthen its global competitiveness as a trusted partner growing alongside the Indian insurance market. India’s insurance market is currently ranked among the world’s top ten in size and has attracted growing attention as a leading emerging insurance market, with strong medium- to long-term growth prospects supported by rapid economic expansion and broader development of the financial sector.

In response to this growth potential and to establish a more effective local business platform, Korean Re pursued the establishment of its India branch. The company received a reinsurance branch operating license from the International Financial Services Centres Authority (IFSCA) on November 6 last year and plans to commence full-scale operations in April.

GIFT City, where the branch is located, is an international financial special zone designated by the Indian government. It offers regulatory easing and tax incentives to attract overseas financial institutions and is being developed as a global financial hub.

With the establishment of the India branch, Korean Re now operates 12 overseas business bases, comprising four subsidiaries, five branches and three representative offices. The company plans to further strengthen its position in the global reinsurance market on the basis of this network.

Korean Re New Employees Build Homes of Hope in India

From January 19 to 24, Korean Re conducted an overseas housing construction volunteer program in the Palghar region near Mumbai, India.

The program involved 14 employees, including new recruits for 2026, along with two representatives from Habitat for Humanity Korea, who formed the 2026 Korean Re India Global Village Team. The group participated in building homes of hope for low-income families living in substandard housing conditions.

The Palghar region is relatively underdeveloped and lacks adequate basic housing infrastructure, with limited sanitation and safety facilities. During the monsoon season, the area faces a high risk of flooding, and residents experience ongoing housing insecurity due to aging housing structures. Korean Re volunteers took part in key construction processes, including cement mixing and wall installation, contributing to improvements in local living conditions.

The volunteer program coincided with the opening ceremony of Korean Re’s India branch, adding significance to the initiative. New employees attended the ceremony to observe the company’s global business expansion and also participated in housing construction activities with Habitat for Humanity in India, practicing corporate social responsibility on site.

Reinsurance is closely connected to natural disasters, and Korean Re has incorporated overseas volunteer programs into its new employee training program to give participants firsthand exposure to the industry’s core values. Since beginning its overseas activities in Cebu, the Philippines, in 2014, the company has continued to carry out housing reconstruction projects in disaster-affected areas, including Bantayan Island in the Philippines and Ayutthaya in Thailand.

Korean Re Holds 2026 New Year Concert

On January 8, the Korean Re New Year’s Concert 2026 was held, marking its 12th year as an annual tradition. The event was organized in two parts and attended by Korean Re executives, employees, and their families.

The first part took place at the Crystal Ballroom of Lotte Hotel World and featured a video highlighting Korean Re’s corporate culture of harmony and inclusiveness, along with an introduction of new employees created using AI technology. This was followed by a welcome address by President and CEO Jong Gyu Won, who expressed his appreciation to employees and their families and extended a warm welcome to the families of new recruits.

Following dinner, guests moved to Lotte Concert Hall for the second part of the evening, the New Year’s Concert. The performance was conducted by David Lee, Artistic Director and Principal Conductor of the Gangnam Symphony Orchestra, and featured the Seoul Philharmonic Orchestra performing works including George Gershwin’s Piano Concerto in D major and Camille Saint-Saëns’ Symphony No. 3 (“Organ”).

Renowned pianist Rudolf Buchbinder, widely regarded as a leading interpreter of Beethoven, appeared as guest soloist and received enthusiastic applause. Acclaimed organist Sooyoung Choi also delivered a memorable performance in the second part of the concert, captivating the audience with his expressive organ playing.

Korean Re-Sponsored Cello Ensemble Wing Successfully Holds 13th Annual Concert

The cello ensemble Wing, sponsored by Korean Re and affiliated with the Miral Welfare Foundation, successfully held its 13th annual concert on December 11 at Jangcheon Hall of Kwanglim Arts Center in Seoul’s Gangnam district.

Miral Cello Ensemble Wing is the first cello ensemble in Korea composed of children and adolescents with developmental disabilities. Since its founding in 2012, the ensemble has continued its efforts to help young people with developmental disabilities communicate with the world and grow through music. By providing stage experience and artistic education to youths who are at greater risk of social isolation, the group has sustained its meaningful journey over the past 13 years.

Korean Re has maintained a close relationship with the ensemble since 2017. At the time, President and CEO Jong Gyu Won decided to provide immediate support after learning that the ensemble faced possible dissolution due to the suspension of sponsorship. Over the past eight years, continued support has enabled members to receive professional training and regular performance opportunities, fostering their growth as cellists.

This year’s annual concert featured an enhanced program under the direction of Music Director Missa Kang, who also serves as Music Director of Korea Artbility Chamber and performs as a member of the cello ensemble Cellista. The program, centered on Tchaikovsky’s Children’s Album, included lyrical classical pieces such as Morning Prayer and Mama, as well as popular arrangements enjoyed by the audience, including Let It Go from the film Frozen and Golden from K-pop Demon Hunters, drawing an enthusiastic response.

Korean Re plans to continue its support so that young people with developmental disabilities may discover their talents through music and engage more broadly with society.