7 Internal Candidates Confirmed for Woori Bank President...Final Recommendation by End of This Month

Our Bank President Candidate Pool Narrowed to 7 (Long-list), Final Bank President Candidates to Be Recommended by End of This Month

Completion of Dual Role System for Woori Financial Group Chairman and Woori Bank President... Separate Operation of Bank President Planned

[Asia Economy Reporter Kangwook Cho] Woori Financial Group Executive Candidate Recommendation Committee (hereinafter Woori Financial Group Executive Committee) announced on the 23rd that it has finalized the long-list of candidates for the next Woori Bank President.

The Woori Financial Group Executive Committee, composed of six members including Woori Financial Group Chairman (Chairman) Sohn Tae-seung, and outside directors No Seong-tae, Park Sang-yong, Jeong Chan-hyeong, Jeon Ji-pyeong, and Jang Dong-woo, held a meeting following Chairman Sohn Tae-seung's decision last month to separate the roles of holding company chairman and bank president. The committee confirmed seven internal candidates with experience as bank vice presidents or higher as the next bank president candidates.

On the 6th, the Woori Financial Group Executive Committee discussed the schedule for appointing CEOs of six subsidiaries including the bank president, and on the 22nd, the committee selected the qualifications and candidate pool for the bank president.

The Woori Financial Group Executive Committee selected candidates considering factors such as customer-centric sales capabilities through strengthening financial consumer protection, maximizing shareholder value by enhancing Woori Bank's corporate value and creating group synergy, and organizational management skills to stabilize the organization and unite employees.

Woori Financial plans to conduct a comprehensive verification process of management performance and capabilities for the candidates at the upcoming group executive committee meeting next week, select the final interviewees (short-list) for the bank president, and after a separate in-depth verification process including presentation interviews, recommend the final candidate for bank president by the end of January.

Meanwhile, the Woori Financial Group Executive Committee is also conducting the appointment process for CEOs of six subsidiaries including Woori Card, Woori Securities, Woori FIS, Woori Financial Management Research Institute, Woori Credit Information, and Woori Fund Service, and plans to complete the CEO recommendations for each subsidiary by the end of January.