Jung Woo Sung (pictured) has become CEO of Hanwha Asset Management Company, the US unit operated by South Korea-based assurer Hanwha Life Insurance.
Sung took up he CEO position earlier this month but also has responsibility for Southeast Asia. He will develop its alternative investment fund-of-funds, co-investments and direct investments, including strategic deals in financial technology.
In his LinkedIn profile, Sung said: “There will be a some focus on Hanwha Group’s growth drivers, including fintech (including P2P [peer-to-peer] lending) and solar energy projects, although I expect to focus more on financial investments.”
Sung previously spent more than four years as an executive at SK Planet (SKP), an innovation and venturing unit of South Korea-based telecom operator SK Telecom. He was also chief financial officer and head of corporate development at SK Planet and Shopkick, two wholly-owned US subsidiaries of SKP.
As head of corporate development, Sung set up the department at SKP in 2012 and transferred to the US in February 2014 before acquiring VC-backed shopping app developer Shopkick in October the same year.