- Category:
- Richest Business › CEOs
- Net Worth:
- $2 Billion
What is Shin Chang-Jae's Net Worth?
Shin Chang-Jae is a South Korean billionaire who has a net worth of $2 billion. Shin Chang-Jae never actually wanted to become a businessman and now he serves as Chairman and CEO of Kyobo Life Insurance, a company started by his father. Shin's father set the basis of the foundation and established the Kyobo Book Center chain, a subsidiary of the insurance group. At the time, Shin Chang-Jae declined his father's offer to send him to a business school overseas. Instead, he stayed in his homeland South Korea, where he attended medical school and became an obstetrician and medical school professor at Seoul National University.
But in 1997, he took over the position of Chairman at Kyobo, since his father was no longer able to play that role becoming ill from cancer. Ever since, he has built Kyobo into the country's second-biggest life insurer. This reluctant executive saw his wealth swell over the years, and in 2009, he won the prestigious Asia Insurance Industry Award. In addition to running a company in such a hot industry in Korea like insurance, Shin is married with two children.
