Son Tae-seung, Chairman of Woori Financial Group, "Achieving No.1 Financial Group through Restoring Trust"

Son Tae-seung, Chairman of Woori Financial Group, is declaring a co-management approach toward becoming the number one financial group trusted by customers at the '2020 Woori Financial Group Management Strategy Meeting' held on the 10th at the main auditorium of Woori Bank headquarters in Jung-gu, Seoul.

[Asia Economy Reporter Kim Hyo-jin] Sohn Tae-seung, Chairman of Woori Financial Group, stated, "The greatest value for a financial company to exist is trust," and emphasized, "We must undergo a deep change, which means bold transformation and innovation."

According to Woori Financial Group on the 12th, Chairman Sohn made these remarks at the "2020 Woori Financial Group Management Strategy Meeting" held on the 10th at the main auditorium of Woori Bank headquarters in Jung-gu, Seoul, attended by over 200 executives at the head office level or higher from group companies, where they resolved to leap forward as the number one comprehensive financial group through bold change and innovation.

At the meeting, Chairman Sohn said, "To achieve the 2020 management goal of 'Becoming the number one comprehensive financial group through customer trust and innovation,' all employees need to have a sincere and dedicated mindset to do their best for customers," urging employees to embrace bold change and innovation.

He also emphasized restoring trust. He said, "Restoring the three major trusts this year?'customer trust,' 'trust among employees,' and 'market trust'?is as important as the management goals and is the top priority for Woori Financial Group," and urged, "Let all employees of the group work together to restore trust."

During the management strategy meeting, Woori Financial Group held a 'Co-management (同行經營) Proclamation Ceremony,' where all employees of the group reaffirmed their commitment to becoming reliable partners for customers. In particular, through a signing ceremony to join the UN Principles for Responsible Banking, they pledged to practice sustainable management and take the lead in the social responsibility of finance.

Woori Financial Group presented seven major management strategies for this year: ▲Customer-centered sales innovation ▲Risk management and internal control innovation ▲Strengthening sustainable growth engines ▲Enhancing business portfolio ▲Leading digital innovation ▲Leveling up global business ▲Expanding Woori Together synergy. They shared the medium- to long-term strategic direction, stating that the next two to three years will be a critical period for Woori Financial Group to complete group rebuilding despite the economic downturn.

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