Hanwha Life expands into Middle East markets

Hanwha Life Insurance CGO Kim Dong-won. (Hanwha Life Insurance)

Hanwha Life Insurance Co. is expanding its global footprint by strengthening its financial network in the Middle East, a push led by Chief Global Officer Kim Dong-won.

The company said Tuesday that Kim delivered an opening address at the Global Markets Summit during Abu Dhabi Finance Week (ADFW) 2025 on Monday in Abu Dhabi.

ADFW, held under the patronage of Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan, is the Middle East’s largest financial event.

In his remarks, Kim stressed the company’s commitment to strengthening Seoul–Abu Dhabi ties, pointing to joint real-asset investment, improved cross-border payment systems, and digital-asset platform development as key areas of cooperation.

Kim’s trip to the region comes as Hanwha Life accelerates efforts to broaden its overseas portfolio, which has so far focused on Southeast Asia and North America.

In April, the company became the first Korean insurer to enter the overseas banking sector by acquiring a 40 percent stake in Nobu Bank, part of Lippo Group, Indonesia’s sixth-largest conglomerate.

Hanwha Life also secured a foothold in the United States, the world’s largest financial market, by purchasing a 75 percent stake in Velocity Clearing LLC.

Industry analysts say the moves allow the company to go beyond traditional life insurance into banking and securities. They also credit Kim’s global network for enabling the expansion.

His appearance at ADFW is seen as part of a broader strategy to build relationships in the Middle East and identify new investment opportunities.