Shin Yohwan and Yoon Inseop Appointed as New Outside Directors of Woori Financial... "Complete Privatization Success"

[Asia Economy Reporter Song Seung-seop] On the 27th, Woori Financial Group held an extraordinary general meeting of shareholders at its headquarters in Jung-gu, Seoul, and appointed Shin Yo-hwan and Yoon In-seop as outside directors.

Director Shin Yo-hwan is a former CEO of Shin Young Securities, and Director Yoon In-seop is a former CEO of Korea Ratings. They were recommended by major shareholders Eugene Private Equity (PE) and Fubon Life, respectively. Eugene PE acquired a 4% stake in Woori Financial, sold by the Korea Deposit Insurance Corporation last month on the 9th, gaining the right to recommend directors.

Woori Financial explained that with this, the share sale process by the Korea Deposit Insurance Corporation, which began in September last year, has been completed, successfully achieving full privatization. The stock price of Woori Financial Holdings has also attracted high market interest, showing the highest growth rate within the industry following privatization.

Chairman Sohn Tae-seung emphasized in his greeting at the extraordinary general meeting, “With full privatization as an opportunity, Woori Financial Group will vigorously leap forward toward new dreams and a greater future, repaying shareholders with greater profits.”