Woori Financial Group Chairman: "If Ethical Awareness Drops to Zero, Trust in Financial Companies Also Becomes Zero"

Special Lecture at Group Town Hall Meeting

Im Jong-ryong, Chairman of Woori Financial Group Photo by Yonhap News

Im Jong-ryong, Chairman of Woori Financial Group, stated on the 12th, "If ethical awareness drops to zero, the trustworthiness of a financial company also becomes zero." This is interpreted as emphasizing the ethical awareness of bank employees.

On the same day, Chairman Im held a 'Group CEO Town Hall Meeting' at the headquarters in Jung-gu, Seoul, attended by 220 executives from all affiliates, saying, "The essence of the financial industry is trust, and trust is the most important asset of a financial company."

Chairman Im said, "Trust is not the sum of elements such as internal control systems, employees' expertise, and ethical awareness, but a relationship where all elements are multiplied."

He mentioned three conditions to establish proper ethical awareness: ▲ continuous education ▲ repetitive inspections ▲ strict accountability.

Earlier, on the 27th of last month, Chairman Im personally presided over the first internal control field inspection meeting and emphasized the role of internal control personnel deployed at the forefront of operations.

Woori Financial is strengthening its financial accident prevention system by establishing a triple management system consisting of 251 personnel, including internal control managers, internal control specialists, and internal control branch managers, at sales sites.

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