Exclusive
Jung Jung-yi, eldest daughter of Hyundai Marine & Fire Insurance Chairman Chung Mong-yoon, reappointed as CEO of Hyundai Heim Asset Management

[비즈한국] It has been confirmed that Jung Jung-yi (42), the eldest daughter of Hyundai Marine & Fire Insurance001450 Chairman Chung Mong-yoon (71), has been reappointed as CEO of Hyundai Heim Asset Management. Before joining Hyundai Heim Asset Management in 2024, CEO Jung worked at HGI (HG Initiative) and MGRV. She took office as an executive director at Hyundai Heim Asset Management in 2024 and was promoted to CEO in June of last year.

Upon taking office as CEO of Hyundai Heim Asset Management, Jung Jung-yi stated, "Due to structural social changes such as an aging population and an increase in single-person households, residential culture is changing rapidly," and expressed her ambition, saying, "Based on our rich experience and accumulated expertise, we will pioneer new markets and grow into a leading real estate-specialized asset management company."

CEO Jung Jung-yi's original term was scheduled to end on April 7 of this year. However, with the decision for reappointment, her term has been extended until April 8, 2028. Regarding the reappointment, a representative from Hyundai Heim Asset Management stated, "She was reappointed following the end of her term due to her achievements in areas such as the senior business."

Hyundai Heim Asset Management is 100% owned by Hyundai Marine & Fire Insurance. It is difficult to consider its performance stellar, as it recorded a net loss of 1.9 billion won last year. However, there has been an improvement trend, with operating revenue rising from approximately 400 million won in 2024 to approximately 1.2 billion won in 2025.

Hyundai Heim Asset Management has recently been pursuing business activities such as signing a land purchase agreement for the Daehan Artists Center site in Mok-dong, Yangcheon-gu, Seoul. The company is pushing for the development of a senior residence with about 400 households on the site. This project is being pursued through the 'Hyundai Heim Senior Fund No. 1,' with participation from not only Hyundai Heim Asset Management but also Hyundai Marine & Fire Insurance, NH Investment & Securities005940, and GS E&C006360. The location is considered favorable as it is near Mok-dong Station and Omokgyo Station on Seoul Subway Line 5.

However, it is too early to be optimistic about the future outlook, given that Hyundai Heim Asset Management is a real estate-specialized firm, due to uncertainties in the real estate market. The Korea Research Institute for Human Settlements' Real Estate Market Policy Research Center stated that the national real estate market consumer sentiment index fell from 113.2 in January to 108.2 in February.

The performance of Hyundai Heim Asset Management is expected to influence the evaluation of CEO Jung Jung-yi. Chairman Chung Mong-yoon has two children: his eldest daughter, CEO Jung Jung-yi, and his eldest son, Chung Kyung-sun, Vice President of Hyundai Marine & Fire Insurance (40). In the business world, it is believed that either CEO Jung Jung-yi or Vice President Chung Kyung-sun will become Chairman Chung's successor.

Chairman Chung Mong-yoon is currently the largest shareholder, holding a 22% stake in Hyundai Marine & Fire Insurance. CEO Jung Jung-yi and Vice President Chung Kyung-sun hold 0.38% and 0.46% stakes in Hyundai Marine & Fire Insurance, respectively. As their holdings are not significant, the chairman's intent is expected to be a key factor in the future succession of management rights.

Vice President Chung Kyung-sun serves as the Chief Sustainability Officer (CSO) at Hyundai Marine & Fire Insurance. He is highly regarded for strengthening the company's ESG (Environmental, Social, and Governance) management. In terms of performance, Hyundai Marine & Fire Insurance is maintaining a positive atmosphere, with net profit rising by 19.90% from 850.5 billion won in 2024 to 1.0198 trillion won in 2025.

As both CEO Jung Jung-yi and Vice President Chung Kyung-sun are currently managing from their respective positions, it is difficult to predict which side will eventually take the helm. Business circles are focused on whether CEO Jung Jung-yi can prove her management capabilities by successfully leading Hyundai Heim Asset Management amidst uncertainty.