Woori Bank President Candidates Kwon Kwang-seok, Kim Jeong-gi, Lee Dong-yeon... Final Single Recommendation Possibly on the 29th (Comprehensive)

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group announced on the 28th that the Group Executive Candidate Recommendation Committee selected three candidates for the next Woori Bank President: Kwon Kwang-seok, CEO of the National Credit Guarantee Federation of Saemaeul Geumgo, Kim Jeong-gi, Head of Woori Bank’s Sales Support Division, and Lee Dong-yeon, CEO of Woori FIS.

The Group Executive Candidate Recommendation Committee plans to conduct in-depth interviews, including presentations by the three candidates, on the 29th, select one candidate, and complete the final recommendation process as early as the same day. The candidate recommended by the committee will be appointed at Woori Bank’s shareholders’ meeting in March.

CEO Kwon Kwang-seok previously served as Executive Vice President of Woori Bank’s IB Group and External Cooperation Unit, and later as CEO of Woori PE. Based on his experience in IB operations and overseas IR, he is regarded as well-suited to lead the bank’s CIB and global strategy initiatives.

Division Head Kim Jeong-gi has held positions such as Managing Director of the Business Support Group and Executive Vice President of the Corporate Group. Woori Financial Group explained that he is highly evaluated for his overall capabilities in Woori Bank’s sales and human resources.

CEO Lee Dong-yeon has demonstrated expertise across banking sales and digital sectors, having concurrently served as Executive Vice President of Woori Bank’s IT Group since the holding company’s launch. He has also held roles such as Managing Director of the Pension Trust Business Unit, Executive Vice President of the SME Group, and Executive Vice President of the Domestic Division and Personal Group.

To ensure fairness and transparency, the Group Executive Candidate Recommendation Committee held three meetings on the 6th, 22nd, and 28th, conducting step-by-step verification procedures for the candidate pool. The committee consists of Chairman Son Tae-seung, Chairman of Woori Financial Group and Woori Bank President, and five outside directors: Noh Seong-tae, Park Sang-yong, Jeong Chan-hyung, Jeon Ji-pyeong, and Jang Dong-woo.

Once the next Woori Bank President is appointed, Chairman Son’s concurrent role as Woori Bank President will end. Woori Financial Group decided last month to separate the roles of Group Chairman and Woori Bank President.

Accordingly, Woori Financial Group’s plan is for Chairman Son to focus on the full privatization of Woori Financial Group and business diversification through mergers and acquisitions (M&A) of securities and insurance companies, while the Woori Bank President will concentrate on customer-centric management and strengthening sales capabilities.