Woori Financial Group Secures Distributable Profit at General Meeting... "Enhancing Shareholder Value"

[Asia Economy Reporter Song Seung-seop] Woori Financial Group announced on the 26th that it held the 2nd regular shareholders' meeting at its headquarters on Sogong-ro, Jung-gu, Seoul, and processed major agenda items.

The shareholders' meeting proceeded in the order of approval of the 2nd term financial statements and consolidated financial statements, amendment of the articles of incorporation, reduction of capital reserves, appointment of directors, appointment of outside directors as members of the audit committee, appointment of audit committee members who are outside directors, and approval of the limit on directors' remuneration.

Woori Financial Group explained that it transferred 4 trillion won to retained earnings to expand the source of distributable profits, enabling the promotion of various shareholder-friendly policies in the future.

The reappointment proposals for outside directors whose terms are ending, including No Seong-tae, Park Sang-yong, Jeong Chan-hyung, Jeon Ji-pyeong, and Jang Dong-woo, as well as the appointment proposal for inside director Lee Won-duk, were also approved. Previously, ISS, the world's largest proxy advisory firm, the National Pension Service, and the Korea Corporate Governance Service expressed opposition to the appointment of many members of Woori Financial Group's board.

In his greeting, Sohn Tae-seung, Chairman of Woori Financial Group, said, “This year, we will do our best to enhance shareholder value through performance improvement and various proactive shareholder return policies,” and emphasized, “We will make 2021 the first year of ESG (Environmental, Social, and Governance) management, actively participate in the government's 2050 carbon neutrality and Korean New Deal policies, and establish ourselves as a financial group leading a sustainable society.”

Meanwhile, Woori Financial Group presented its new vision as “A financial group creating tomorrow's value through today's innovation” and its management goal as “Strengthening group competitiveness based on innovation and efficiency.”

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