Woori Financial Group Finalizes Shortlist of Four Candidates Including Lim Jongryong for Next Chairman

by Hwang Yoonju

Published 02 Dec.2025 09:15(KST)

In-depth Interviews to Be Conducted Over the Next Month

Woori Financial Group Finalizes Shortlist of Four Candidates Including Lim Jongryong for Next Chairman

The Executive Candidate Recommendation Committee (ECRC) of Woori Financial Group announced on December 2 that it has selected a shortlist of four final candidates for the next chairman: Chairman Lim Jongryong, Woori Bank President Chung Jinwan, and two external candidates. The identities of the external candidates will remain undisclosed to protect personal information.

Since the initiation of the management succession process at the end of October, the ECRC has reviewed the candidates based on several criteria, including management performance evaluated by internal and external professional agencies, the results of the CEO development program, and leadership reputation checks. After conducting interviews with the longlist of candidates on December 1, the committee finalized the shortlist.

Lee Kanghaeng, Chair of the ECRC, stated, "We have conducted the process based on independence and fairness, in accordance with the management succession regulations and plans that faithfully reflect best practices in corporate governance." He added, "In particular, for the external candidates, we held a pre-orientation session that included providing information on the group's management status and a Q&A session, in order to enhance their access to information and ensure fairness between internal and external candidates."

The ECRC announced that, over the next month, it will conduct a thorough verification process for the four shortlisted candidates. This will include multiple interviews with external experts, individual management plan presentations, and in-depth interviews, followed by extensive discussions among committee members to select the final candidate for the next chairman.

The candidate ultimately selected by the ECRC will be officially appointed as the next chairman following a resolution by the board of directors and approval at the regular shareholders' meeting scheduled for March next year.