Son Tae-seung: "We Must Innovate Like Amazon and Google to Achieve Market-Shocking Results"

Son Tae-seung, Chairman of Woori Financial Group

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group announced on the 17th that it held the ‘2021 Management Strategy Workshop’ on the 15th at the Synergy Hall of Woori Bank’s headquarters in Jung-gu, Seoul, with about 600 executives from group companies participating non-face-to-face via YouTube.

Earlier, on the 11th, to mark the 2nd anniversary of the holding company’s founding, Woori Financial Group newly declared the vision of ‘A Financial Group Creating Tomorrow’s Value through Today’s Innovation’ and adopted the English vision slogan ‘Innovate Today, Create Tomorrow’ for the event, once again sharing the vision and this year’s management strategy across all group companies including Woori Bank.

On that day, Chairman Sohn Tae-seung reiterated the resilience he emphasized in his New Year’s address, saying, “We must bounce back like a spring in all areas including financial performance,” and strongly urged, “To achieve groundbreaking results that surprise the market, let us innovate every day with the attitude of ‘Always Day One,’ like giant innovative companies such as Amazon and Google.”

Chairman Sohn also explained the mid- to long-term strategy established at the end of last year and this year’s management strategy to the executives and employees, emphasizing that ‘innovation’ and ‘efficiency’ are the core keywords of this year’s management goals.

Furthermore, encouraging employees by stating that Woori Financial’s growth potential is highly evaluated in the market, he asked them to devote themselves to the group’s six core strategies: ▲expanding the group’s growth base ▲leaping to Digital No.1 ▲enhancing management efficiency ▲strengthening brand/ESG (environment, social, governance) management ▲reinforcing risk/internal control ▲leading global business.

Woori Financial Group also held a signing ceremony for ESG management principles, where all group CEOs pledged active participation in ESG management after listening to a lecture on the importance of ESG management by Professor Shin Jin-young of Yonsei University. A Woori Financial Group official explained, “To achieve global-level ESG management performance and to be transparently evaluated in domestic and overseas markets, we also declared support for CDP (Carbon Disclosure Project) and TCFD (Task Force on Climate-related Financial Disclosures).”

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