Woori Financial "Next Year's First Half 'Zero Hour'... Risk Management Top Priority"

Woori Financial Group CEO Meeting to Establish Management Plan
"Risk Management as Top Priority... Also Promoting Core Business Competitiveness"

[Asia Economy Reporter Minwoo Lee] Woori Financial Group has established a management plan prioritizing risk management, given the many uncertainties such as the economic recession expected in the first half of next year.

On the 11th, Woori Financial Group announced that it held the '2022 Management Performance Review and 2023 Management Plan Establishment Workshop' on the 9th at the group headquarters conference room.

At the event, Sohn Tae-seung, Chairman of Woori Financial Group, told the CEOs of 14 subsidiaries including Woori Bank, "The zero-visibility management environment due to the global economic recession may continue for some time," and urged, "Until the first half of next year, please prioritize risk management at an emergency management level." The group plans to focus on solid management centered on risk management with a sense of unity across the entire group to prepare for the worst crisis situations. In addition, they decided to closely monitor market conditions and prepare measures such as expanding securities and insurance portfolios.

Chairman Sohn said, "This year marked the first year of full privatization with good results, so let us make next year a year to actively lead the digital market and prepare groundbreaking future growth by laying the foundation for non-financial business expansion," and urged, "Please actively participate in the 23 trillion KRW-scale coexistence project for vulnerable groups announced last August, including 'loan principal reduction for low-credit faithful repayors,' 'interest rate benefits and fee exemptions for vulnerable borrowers,' and 'funding support for youth and small business owners.'"

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