Woori Financial Group, Approval of Appointment of Lim Jong-ryong at Shareholders' Meeting (Comprehensive)

Official Inauguration After Board Approval
Im: "We Will Enhance Woori Financial's Competitiveness... Actively Pursuing Securities Firm Acquisition"

[Image source=Yonhap News]

Lim Jong-ryong, the designated chairman of Woori Financial Group, was appointed as the new chairman on the 24th.

Woori Financial announced that the agenda to appoint Lim as an inside director was passed at the 4th regular shareholders' meeting held at the Woori Bank headquarters in Jung-gu, Seoul. Lim will officially take office after the board meeting scheduled for the afternoon. He is expected to hold an inauguration ceremony immediately and begin his three-year term as chairman.

The Woori Financial Executive Candidate Recommendation Committee had confirmed Lim as the next chairman candidate on the 3rd of last month.

[Image source=Yonhap News]

On the day, Lim arrived at the Woori Bank headquarters in Jung-gu, Seoul, and told reporters, “I plan to focus on creating a new corporate culture, enhancing Woori Financial’s competitiveness, and normalizing the holding company system,” adding, “I feel a heavy sense of responsibility, but I have high expectations that we can build a great financial group together with the executives and employees.”

Regarding the successor to Lee Won-duk, the Woori Bank president who announced his resignation on the 7th, Lim explained, “We will create and operate a new management succession program,” and “Today (the 24th), we will hold a subsidiary CEO candidate recommendation committee meeting to finalize the procedures and methods and proceed immediately.”

On the possibility of acquiring a securities company to strengthen the non-bank portfolio, he also stated, “We have plans, and if a good opportunity arises, we will actively pursue the acquisition.”

At the Woori Financial shareholders' meeting that day, the agenda to renew the term of outside director Jung Chan-hyung and to appoint former Kiwoom Securities Vice President Yoon Soo-young and IMM Investment CEO Ji Sung-bae as new outside directors were all approved.

In addition, reports on audit, business, and internal accounting control system operations were presented, and agendas including approval of financial statements (including the statement of retained earnings) and consolidated financial statements, as well as approval of the director remuneration limit, were processed.

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