Woori Financial Establishes Consumer Protection Organization... Group's 'Control Tower'

[Asia Economy Reporter Kwon Haeyoung] Woori Financial Group announced on the 11th that it has completed the appointment of the Woori Bank president and the group executive team, followed by a reorganization of the holding company and the bank.

As part of innovation measures to restore customer trust, Woori Financial has established a Financial Consumer Protection Organization within the holding company to serve as the control tower for the group’s financial consumer protection tasks.

Woori Bank has also reorganized its existing Consumer Brand Group into the Financial Consumer Protection Group and the Public Relations Brand Group. The newly established Financial Consumer Protection Group is an independent organization directly under the bank president to strengthen the professionalism and independence of customer protection duties.

Additionally, Woori Financial plans to introduce a divisional system to systematically manage group projects and strengthen responsible management. To solidify synergy creation and collaboration systems among the group’s core businesses?banking, card, securities, and asset management?a dedicated business management organization will be established to enhance key synergy businesses such as asset management, global, and CIB, thereby reinforcing the foundation for sustainable growth.

A Woori Financial Group official stated, "By strengthening consumer protection functions at the group level, we will transform into a financial group that grows together with our customers," adding, "Through the newly established dedicated business management organization, we will systematically manage the group’s major businesses and further solidify the comprehensive financial group system as we enter the second year of the holding company structure."

Meanwhile, Woori Bank has changed the name of its existing WM Group to the Asset Management Group to clarify the role of establishing and promoting asset management strategies across the entire bank. To strengthen customer-centric asset management, it will also provide products and services tailored to customer characteristics from various perspectives, such as life cycle stages.

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