Next Woori Bank President a 'Three-Way Race'... Whoever Wins, a 'Fresh Breeze'

[Asia Economy Reporter Kim Hyo-jin] The sole candidate for the next Woori Bank president is expected to be finalized as early as the 29th. Among the initially mentioned candidates, three youngest individuals have been shortlisted for the final interview, highlighting a focus on generational change in this appointment. Financial circles anticipate a 'fresh breeze' regardless of who is appointed.

The Woori Financial Group Executive Candidate Recommendation Committee is conducting in-depth interviews from this morning with the three candidates shortlisted for the next Woori Bank president. The candidates are Kwon Kwang-seok, CEO of the National Credit Guarantee Federation of Saemaeul Geumgo; Kim Jeong-gi, Head of Woori Bank's Business Support Division and HR Group Division (Executive Vice President); and Lee Dong-yeon, CEO of Woori FIS.

The interviews, continuing into the afternoon, involve candidates presenting their prepared presentations followed by Q&A sessions with the committee members. The group’s recommendation committee plans to select one final candidate and recommend them to the board of directors within the day. The final candidate selected through this interview process will be officially appointed at the shareholders' meeting in March.

CEO Kwon was born in 1963, Executive Vice President Kim in 1962, and CEO Lee in 1961, all born in the 1960s. The three youngest candidates were selected from a long list of seven candidates. Notably, CEO Kwon and Executive Vice President Kim are considered 'young blood,' having joined the Commercial Bank in the late 1980s (1988 and 1989 respectively).

A Woori Financial Group official stated, "This is the first time since the transition to a holding company system in January last year that the Woori Bank president position is being separated," adding, "There seems to be a consensus on the need for new talent to lead the organization with youthful energy."

Currently, Sohn Tae-seung, Chairman of Woori Financial Group, concurrently serves as the Woori Bank president. Last month, Woori Financial decided to separate the roles of group chairman and Woori Bank president and has been preparing for the appointment. Chairman Sohn was previously recommended as the next chairman for a three-year term.

Chairman Sohn plans to focus on the complete privatization of Woori Financial and business diversification through mergers and acquisitions (M&A) of securities and insurance companies, while the bank president will concentrate on customer-centric management and strengthening sales capabilities.

CEO Kwon previously served as Executive Vice President of Woori Bank’s IB Group and External Cooperation Unit, and later as CEO of Woori PE. Based on his experience in IB operations and overseas IR, he is regarded as well-suited to lead the bank’s CIB and global strategy initiatives.

Executive Vice President Kim has held positions such as Managing Director of Woori Bank’s Business Support Group and Executive Vice President of the Corporate Group. Woori Financial explains that he is highly regarded for his comprehensive capabilities in bank operations and human resources.

CEO Lee has demonstrated expertise across banking operations and digital fields, having concurrently served as Executive Vice President of Woori Bank’s IT Group after the holding company’s establishment. He has held roles including Managing Director of the Pension Trust Business Unit, Executive Vice President of the SME Group, and Executive Vice President of the Domestic Division and Personal Group.

To ensure fairness and transparency, the group’s recommendation committee held three meetings on the 6th, 22nd, and 28th to conduct step-by-step verification of the candidate pool. The committee is composed of Chairman Sohn and five outside directors: Noh Seong-tae, Park Sang-yong, Jeong Chan-hyung, Jeon Ji-pyeong, and Jang Dong-woo.

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