Jung Woo Sung, formerly the chief financial officer and head of corporate development at SK Planet and Shopkick, has joined Hanwha Asset Management as CEO.
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.