Korea Non-life Reinsurance Corporation was established by the Korean government in 1963. However, due to bureaucratic organizational culture and absence of effective leadership, it was constantly plagued by financial losses and sluggish business outlook from its inception. It was privatized in 1978, but, nevertheless, the company was under continued protection as a semi- government agency based on the compulsory reinsurance policy imposed by the Korean government. Encountered with financial crisis in 1998, Korea Non-life Reinsurance Corporation suffered from huge financial deficit and was on the verge of bankruptcy. A new CEO named Jong-won Park took over the company in July 1998. He began implementing numerous changes immediately emphasizing entrepreneurial spirits and strong business orientation. He changed the company’s name to Korean Reinsurance Company in 2002 in order to symbolize its complete transformation. Profits surged and Korean Re became the top reinsurance company in Asia and the 11th largest reinsurer in the world. Mr. Park became the longest-tenured CEO in Korea We analyzed Korean Re’s successful transformation and the role of his leadership based on the Full Range Leadership Development Model. Our main premise was that it took more than one leadership style to bring about complex organizational transformation such as Korean Re’s. That is, successful CEOs tend to exhibit various forms of leader behaviors whenever they are appropriate.