Lee Won-deok, Woori Bank President, "Establishing Strong Systems for Proper Ethical Awareness"

Woori Bank Holds 2022 Second Half Management Strategy Meeting

Woori Bank (President Lee Won-duk) held the "2022 Second Half Management Strategy Meeting" on the 22nd at the Vision Hall of Woori Bank Headquarters. President Lee Won-duk presented the slogan "WE CHALLENGE! WE CHANGE!" and emphasized the need to establish a strong system that can uphold proper ethical awareness.

[Asia Economy Reporter Sim Nayoung] Woori Bank announced on the 24th that it held the ‘2022 Second Half Management Strategy Meeting’ on the 22nd at the Vision Hall of Woori Bank’s headquarters located in Jung-gu, Seoul, with all employees attending both in-person and online. On this day, Lee Won-duk, President of Woori Bank, stated that to become a bank of the customers, by the customers, and for the customers, it is necessary to establish a strong system that can uphold proper ethical awareness.

Recently, Woori Bank subdivided all tasks of the entire headquarters departments by unit and conducted multi-layered inspections, and strengthened internal control processes at the headquarters and branches through the expansion and reorganization of the Compliance Monitoring Office. In addition, they have established recurrence prevention measures such as immediate reassignment of employees lacking ethical awareness.

Furthermore, during a session sharing organizational culture consulting content, President Lee said that for a new organizational culture after complete privatization, innovation in the personnel system, customer-centered performance management, and improvement of the working culture are necessary. To this end, he pledged to create a new organizational culture based on autonomy, passion, and self-esteem through two-way communication and leaders’ leading by example.

Meanwhile, President Lee emphasized, “The bank must be fundamentally customer-oriented and be able to support customers when they need help to overcome social difficulties and crises.” He also mentioned that the slogan of this meeting was ‘WE CHALLENGE! WE CHANGE!’ to embody the meaning of challenge and innovation.

Woori Bank stated that to fulfill its social responsibility, it is preparing systems such as a program that reduces loan principal by the amount of interest exceeding 6% for financially vulnerable groups like low-credit and diligent repayors, products supporting housing preparation for young people without homes, and restart programs for young entrepreneurs.

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