Son Tae-seung, Chairman of Woori Financial Group, Purchases Additional 5,000 Shares of Company Stock

Fifth This Year
"Expressing Confidence in Enhancing Corporate Value"

Son Tae-seung, Chairman of Woori Financial Group

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group announced on the 11th that Chairman Sohn Tae-seung has additionally purchased 5,000 shares of the company’s stock (Woori Financial Group shares) on the market, bringing his total holdings to 88,127 shares of Woori Financial.

This is the fifth time this year that Chairman Sohn has purchased company shares. It is explained that by buying shares during periods of excessive undervaluation, he expressed confidence that Woori Financial’s fundamentals remain solid despite the COVID-19 situation, as well as a commitment to growth next year.

A Woori Financial official stated, "Despite the COVID-19 crisis, the successful mergers and acquisitions (M&A) achieved after transitioning to a holding company, along with efforts to improve the revenue structure and manage soundness, have demonstrated enhanced capability to respond to the improved financial environment, thereby proving solid fundamentals."

Woori Financial completed the group incorporation procedures for AJ Capital and AJ Savings Bank the day before, further strengthening its business portfolio. Accordingly, it is expected that synergies among subsidiaries will increase, raising the profit contribution from the non-bank sector.

A Woori Financial official explained, "Bank stocks have been undervalued throughout the year due to the impact of COVID-19," adding, "Chairman Sohn’s recent purchase of company shares expresses confidence in the increase of solid profit-generating capacity, digital innovation, and enhancement of corporate value through environmental, social, and governance (ESG) management."

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