Skipping Ranks, Appointing Executives in Their 40s... Woori Financial's 'Bold' Personnel Moves

[Asia Economy Reporter Song Seung-seop] Woori Financial Group has initiated a generational change through bold organizational restructuring and executive appointments. The strategy aims to expand group synergy by fostering future growth sectors and strengthening digital and ESG (Environmental, Social, and Governance) capabilities.

On the 25th, Woori Financial Group appointed Jeon Sang-wook, born in 1966 and currently Deputy Head of Woori Bank, as President of the Future Growth Division at the holding company. President Jeon will be responsible for the group’s future growth strategy, including digital-linked convergence business models, IT innovation, MZ generation-specialized platform businesses, and investor relations (IR). Ok Il-jin, a former global consulting firm professional born in 1974 (age 48), was recruited as Chief Digital Officer (CDO) dedicated to digital strategy.

There were also promotions that skipped several ranks. Branch Manager Jeon Seong-chan was unusually promoted to Head of Headquarters and immediately appointed as Head of the Management Support Group. Song Hyun-joo, Head of the Eastern Sales Headquarters, was abruptly appointed as an executive in the Investment Product Strategy Division.

Organizational restructuring was also implemented. To further advance ESG management and respond to demands for strengthening the social role of finance with tangible results, related departments were reorganized. The financial holding company placed these under the Strategy Division, while the bank assigned them to the Management Planning Group. Additionally, to strengthen sales capabilities, Woori Bank’s Deputy Head Park Hwa-jae was appointed as President of Business Support at the holding company. Four regional headquarters covering Chungcheong, Honam, Gyeongbuk, and Gyeongnam were newly established, and regional group leaders were strategically positioned.

Woori Financial Group plans to expand its selection of talented personnel in upcoming appointments for department heads and team leaders. At the shareholders’ meeting scheduled for March, the group intends to recruit a young female lawyer with expertise in ESG as an outside director.

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