Kwon Kwang-seok, Head of Saemaeul Geumgo Central Credit Guarantee, Appointed as Next Woori Bank President

Customer-Centric Sales Ability, Enhancing Corporate Value Through Synergy Creation, Highly Rated Organizational Management Skills
Official Appointment as the 52nd Bank President Scheduled at March Regular Shareholders' Meeting

[Asia Economy Reporter Kangwook Cho] Woori Financial Group announced on the 11th that its Group Executive Candidate Recommendation Committee (hereinafter Woori Financial Group Executive Committee) held a meeting and recommended Kwon Kwang-seok, the current CEO of the National Credit Guarantee Federation of Saemaul Geumgo, as the next candidate for Woori Bank President.

Kwon Kwang-seok, the candidate for Woori Bank President, was born in 1963 and joined Woori Bank in 1988. He served as Executive Vice President of the IB Group and External Cooperation Division, then served as CEO of Woori PE, and is currently serving as CEO of the National Credit Guarantee Federation of Saemaul Geumgo. He was recognized by the Group Executive Committee as the best candidate to lead the bank’s global strategy, based on his extensive experience in key roles such as strategy and human resources at Woori Financial Group, as well as his experience in the bank’s IB business and overseas IR.

Candidate Kwon is regarded as a leader with strong drive, a leading-by-example attitude, diverse work experience, and a logical decision-making style, expected to lead the organization well.

During the interview, candidate Kwon presented management strategies including restoring customer trust through customer-centric management, sound management, risk-weighted asset management, and improving management efficiency by discovering new business opportunities. The Group Executive Committee members highly evaluated Kwon Kwang-seok’s management strategy and his management philosophy emphasizing communication and harmony with organizational members.

The Woori Bank Group Executive Committee stated, "Candidate Kwon Kwang-seok is expected to create synergy through smooth communication between the holding company and the bank in the current situation where the chairman and bank president are separated for the first time since the establishment of Woori Financial Group, and to achieve outstanding results based on organizational stabilization and customer-centric sales at the bank."

In addition, the Woori Financial Group Executive Committee recommended CEO candidates for six subsidiaries.

Kim Jong-deuk, current Executive Vice President of the Treasury Market Group at Woori Bank, was newly appointed as CEO of Woori Investment & Securities; Cho Soo-hyung, current Executive Vice President of the Consumer Brand Group at Woori Bank, as CEO of Woori Credit Information; and Ko Young-bae, current Managing Director of the Trust & Pension Group at Woori Bank, as CEO of Woori Fund Service. Jung Won-jae, CEO of Woori Card; Lee Dong-yeon, CEO of Woori FIS; and Choi Kwang-hae, CEO of Woori Financial Research Institute, were reappointed.