Final Candidates for Next Woori Bank President to Be Decided on the 31st

Conducted in-depth interviews on the 29th but no conclusion reached
‘Shortlist’ candidates Kwon Kwang-seok, Kim Jeong-gi, and Lee Dong-yeon in close contest

From the left, Kwon Kwang-seok, CEO of Credit Guarantee at Saemaeul Geumgo Central Association; Kim Jeong-gi, Head of Business Support Division and HR Group Division (Deputy CEO) at Woori Bank; Lee Dong-yeon, CEO of Woori FIS.

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group will select the final candidate for the next Woori Bank president on the 31st.

According to Woori Financial on the 30th, the Group Executive Candidate Recommendation Committee (Group ECC) plans to hold a committee meeting on the 31st to select and recommend one final candidate based on the results of in-depth interviews conducted the previous day with three candidates.

The Group ECC considered selecting one candidate immediately after the in-depth interviews but could not reach a conclusion. A Woori Financial official said, "The internal discussions within the Group ECC following the in-depth interviews took longer than expected, so it was decided to reconvene the committee on the 31st."

The Group ECC consists of five outside directors representing major shareholders, including Chairman Son Tae-seung, who is also the chairman of Woori Financial and president of Woori Bank, along with Jang Dong-woo, Noh Sung-tae, Park Sang-yong, Jeon Ji-pyeong, and Jeong Chan-hyung. It is known that the Group ECC decided to take more time to carefully listen to internal and external opinions and, if possible, select a candidate by unanimous agreement.

As a result, the final candidate selection is expected to take place after the '3rd DLF Disciplinary Hearing' held on the 30th.

The Group ECC conducted in-depth interviews with three 'shortlisted' candidates: Kwon Kwang-seok, CEO of Saemaeul Geumgo Central Credit Guarantee; Kim Jeong-gi, Executive Vice President of Woori Bank's Business Support Division and HR Group Division; and Lee Dong-yeon, CEO of Woori FIS.

The process involved presentations prepared in advance by the three candidates, followed by a Q&A session covering overall management topics.

CEO Kwon previously served as Executive Vice President of Woori Bank's IB Group and External Cooperation Team and was CEO of Woori PE. He is evaluated as well-suited to lead the bank's CIB and global strategy based on his IB work and overseas IR experience.

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 explained that he is highly regarded for his capabilities across Woori Bank's sales and HR functions.

CEO Lee is said to possess comprehensive expertise in banking operations and digital fields, having concurrently served as Executive Vice President of Woori Bank's IT Group after the holding company was launched. 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 ECC held three committee meetings on the 6th, 22nd, and 28th, conducting step-by-step verification procedures for the candidate pool. The candidate selected by the Group ECC will be formally appointed at the shareholders' meeting in March.

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

Chairman Son 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 president will concentrate on customer-centric management and strengthening sales capabilities.

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