Woori Financial Group Initiates Procedure to Appoint Next Woori Bank President

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group has begun the process of appointing a new CEO for Woori Bank.

According to sources in the financial sector on the 7th, Woori Financial held a meeting of the Executive Candidate Recommendation Committee (ECRC) yesterday to select the CEO of its subsidiary.

Earlier, on the 30th of last month, Woori Financial's ECRC recommended Chairman Sohn Tae-seung as the next chairman candidate for a three-year term, deciding to end the current dual role of chairman and Woori Bank CEO and to separately appoint the Woori Bank CEO. Accordingly, Chairman Sohn is expected to focus on business diversification through mergers and acquisitions (M&A), while the Woori Bank CEO will concentrate on sales and risk management.

Woori Financial is expected to focus on finding the right candidate to stabilize the organization, which has been somewhat unsettled due to the Derivative Linked Fund (DLF) incident, and to establish a customer-centered sales system.

Woori Financial plans to complete the selection process for the next Woori Bank CEO and other affiliate CEOs as early as before the Lunar New Year. Key candidates include Kim Jeong-gi, Head of Woori Bank Sales Support Division; Jeong Chae-bong, Head of Woori Bank Sales Division; Lee Dong-yeon, CEO of Woori FIS; Jeong Won-jae, CEO of Woori Card; and Jo Un-haeng, CEO of Woori Securities.

Among external candidates, Lee Dong-bin, former Woori Bank executive and current CEO of Sh Suhyup Bank, and Kwon Kwang-seok, CEO of Saemaeul Geumgo Central Credit Guarantee, have been mentioned.

This content was produced with the assistance of AI translation services.