[Outside Director Series] ④ 42-Year-Old Woman as ESG Firefighter... Woori Financial Group Director Song Su-young

Youngest Outside Director Among 4 Major Financial Holding Companies
Achievements in Carbon Emission Reduction Projects and BlackRock IR
Extroverted Personality with Strong Internal Trust

“With the addition of a director in his 40s, the atmosphere of the board has become much younger and trendier. He actively communicates with directors in their 50s and 60s, effectively serving as a bridge between the working-level staff and the board.”

This is the evaluation of Song Soo-young, an outside director of Woori Financial Group, by a group staff member who has observed him closely. Director Song is a practicing lawyer who was appointed as an outside director of Woori Financial at the regular shareholders' meeting in March last year. Born in 1980 and aged 42, he is the only director in his 40s among the outside directors of the four major financial holding companies. In addition to the title of ‘youngest,’ various descriptors follow Director Song’s name, such as ‘Woori Financial’s first female outside director’ and ‘ESG (Environmental, Social, and Governance) expert.’

Song Su-young, Outside Director of Woori Financial Group

From ESG Specialist Lawyer to Woori Financial’s ESG ‘Firefighter’

Director Song joined Woori Financial’s board in recognition of his ESG expertise. Since 2010, he has worked as a specialist lawyer in ESG and finance at the law firm Sejong. He was appointed upon Woori Financial’s own recommendation, as the company’s transition to a holding company was delayed and ESG was considered a weakness. Among the six current outside directors of Woori Financial, he is the only member not recommended by a major shareholder. Upon his appointment last year, Director Song immediately took on the role of chair of the ESG Management Committee under the board, leading Woori Financial’s ESG policies. He reviews plans designed by the group’s ESG department and makes final decisions.

His efforts over the past year have begun to show results. Specific ESG policies such as the ‘carbon emissions measurement project’ and ‘female workforce expansion targets’ are being implemented, raising expectations for improved ESG management performance at Woori Financial in the second half of the year. He is also credited with contributing to BlackRock, the world’s largest asset management company, acquiring a 5% stake in Woori Financial in February this year. In November last year, at the international conference on ‘Sustainable Finance for a Better World’ hosted by Woori Financial, Director Song officially and unofficially explained Woori Financial’s ESG management status and goals to Henny Sender, Managing Director of BlackRock. It is widely acknowledged that Director Song played a significant role in BlackRock’s investment decision, considering ESG as a key investment indicator. An ESG official at Woori Financial said, “He first asks if there are any difficulties in promoting ESG and then suggests solutions accordingly.”

Serving on Woori Financial’s board is also a meaningful experience for Director Song personally. He said, “Unlike when I only provided legal advice as a lawyer, I can now see firsthand how ESG is implemented through various processes, which helps me as well.”

A Deep Connection with Finance

Director Song’s connection with the financial industry dates back to 2003. He began his career as a researcher in the finance team at Samsung Securities Research Center. He mainly handled insurance and securities, analyzing related stocks and preparing reports. After gaining 1 year and 8 months of experience, he transferred to Seoul National University’s College of Law and passed the bar exam in 2007 to become a lawyer. Although he did not initially plan to specialize in financial law, his career path continued to intersect with finance. After joining a law firm, he mainly provided legal advice to financial institutions, including ship financing, distressed debt sales, and real estate finance. In 2014, he also completed a financial law course at Seoul National University Law School.

Despite his busy schedule with legal work and external activities, Director Song continued his studies whenever possible. From 2016 to 2018, he earned a Master of Business Administration at Seoul National University’s Graduate School of Business, and in 2020, he completed an executive program at Konkuk University’s Graduate School of Real Estate. He said, “I started attending on the recommendation of people around me, but I took the time to attend because I thought it would help me expand my network in my field and industry.” He still maintains relationships with corporate executives and professors he met in graduate school.

Known as the ‘Senior Who Buys Meals Well’ at the Law Firm

He is considered a ‘legend’ even within the law firm. He is a workaholic with outstanding capabilities. Currently, he is an equity partner at Sejong Law Firm, one of Korea’s major law firms. Holding equity, he is involved in management and oversees case acceptance. Typically, it takes more than three years to become an equity partner from a partner lawyer, but Director Song was promoted in less than two years, which is considered fast.

His internal trust is as strong as his ability. Director Song is known as the ‘senior who buys meals well.’ A colleague close to him at the law firm said, “He always makes time to buy meals for junior colleagues he works with. His principle is that you need to eat together to work together.” Because work often requires intense bursts to meet deadlines, he increases physical interaction regularly to avoid unnecessary misunderstandings. He is also said to value socializing with Woori Financial employees over meals.

Director Song is also a mother raising two elementary school children. For her, parenting remains an ongoing challenge. Recently, on Parents’ Day, she experienced a ‘letter incident’ that shocked her. Her younger child, a third grader, wrote a thank-you letter only to the grandmother who takes care of her, not to her. Director Song said, “Children may see me only as a busy mom, but I hope they recognize that I am making an effort,” adding, “I want to be a good role model for female juniors walking the same path.”

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