Woori Financial Committee Officially Launches Process to Appoint Next Chairman

Lim Jongryong Likely to Be Reappointed as Chairman
Proactive Steps Toward Productive Finance

Woori Financial Group's Executive Candidate Recommendation Committee (hereafter referred to as the Committee) announced on October 29 that it has officially initiated the management succession process to appoint the next chairman.

The Committee consists of all seven outside directors, and the management succession process will proceed for approximately two months based on the management succession regulations and the CEO succession plan.

In accordance with the succession plan, the Committee has continuously managed a pool of both internal and external candidates. Following the initiation of the succession process, the Committee will narrow down the candidate pool and select the final candidate through various evaluation methods and a step-by-step verification process.

Lee Kanghaeng, Chairman of the Committee, stated, "We will conduct the management succession process based on the principles of fairness and independence, ensuring thorough discussions and careful verification among Committee members. Through this process, we aim to appoint the optimal leader to drive Woori Financial Group's next leap forward."

The final candidate recommended by the Committee will be appointed as chairman after receiving approval from the board of directors and the regular general shareholders' meeting scheduled for March next year.

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