Lim Jong-ryong: "This Year Under Emergency Management System... Securing Internal Control, Competitiveness, and Foundation for Leap"

Im Jong-ryong, Chairman of Woori Financial Group, presented internal control innovation, strengthening core competitiveness, and securing a foundation for the group's leap forward as the management goals for the group this year on the 1st.

In his New Year's address, Chairman Im stated, "We must operate this year under an emergency management system to maintain strong responsiveness amid uncertain environments and firmly establish ourselves as a trusted financial group."

Regarding the Jeju Air Flight 2216 runway excursion accident, Chairman Im said, "Together with all employees, I extend my deepest condolences and sympathy to those who passed away in the recent tragic accident and to those who lost their beloved family members."

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He continued about last year, "We completed privatization with our own hands for the first time in 26 years, and entered the securities business after 10 years, bringing back the name Woori Investment & Securities under Woori Financial Group, which had been a long-cherished goal of the group." However, he added, "Despite efforts to effectively improve systems and institutions to eliminate blind spots in internal control, painful accidents caused concern among customers. Employees also suffered damage to their pride."

Regarding the improper loans scandal involving relatives of former Chairman Sohn Tae-seung, Chairman Im said, "As chairman, I feel truly sorry and regretful to our customers, shareholders, and employees," emphasizing, "What we must do now is to rebuild Woori Financial, whose trust has been damaged, on a firmer foundation of trust."

On management goals, Chairman Im said, "We will fundamentally innovate the group's entire internal control system and establish an ethical corporate culture." He added, "The most important thing is to properly establish an ethical corporate culture within us. Knowing well that corporate culture does not change in a short period, we will never give up halfway and will consistently pursue this with a long-term perspective without interruption."

Furthermore, he stated, "We will strengthen competitiveness in core businesses by subsidiary industry sectors and enhance risk management capabilities to proactively respond to uncertainties." He pointed out, "Core businesses such as corporate finance, capital markets, global, and wealth management (WM) must strengthen their fundamentals to secure even higher competitiveness, and we must have systematic risk management capabilities to proactively respond to the rapidly changing financial environment."

Chairman Im also said, "We will secure a solid foundation for leap forward and further elevate our status as a comprehensive financial group," emphasizing, "Maximizing group synergy and providing a differentiated experience unique to Woori Financial based on unrivaled digital platform competitiveness are key, and we must lead market changes and expand our customer base through new business initiatives for future growth."

Referring to the Three Friends of Winter (Sehan Samu) ? pine, bamboo, and plum trees ? Chairman Im said, "We must have perseverance toward the goals we want to achieve. In the new year, no matter what difficulties arise, let us persistently challenge and challenge again." He concluded, "Let us fulfill our responsibility to create a warmer world by embracing financially vulnerable groups and marginalized neighbors and practicing the value of coexistence."

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