[Photo News] Shinhan-Apollo partnership

Shinhan Life, the life insurance arm of Shinhan Financial Group, has partnered with US-based asset management firm Apollo Global Management. The South Korean insurer announced Monday that the two firms signed a memorandum of understanding to enhance Shinhan Life's asset management capabilities and secure diverse investment opportunities using Apollo's specialized investment platform and advisory services while bolstering Apollo's presence in Korea. The partnership will include a task force for business collaboration, such as talent exchanges, to gradually expand strategic initiatives. Apollo, which has been expanding in the insurance sector, acquired US retirement services provider Athene in 2022. In the photo, Shinhan Financial Group Chairman Jin Ok-dong (center) poses with Shinhan Life CEO Lee Young-jong (fourth from left) and Jim Zelter (fourth from right), co-president of Apollo Asset Management, at the signing ceremony held at Shinhan Life’s headquarters in central Seoul on Friday. (Shinhan Life)