Son Tae-seung, Chairman of Woori Financial Group, Heads to Singapore... First Overseas IR Since COVID-19

2-night 3-day Schedule... Overseas IR Targeting Institutional Investors in Singapore Region

[Asia Economy Reporter Yu Je-hoon] Sohn Tae-seung, Chairman of Woori Financial Group, has participated in an overseas investor relations (IR) event for the first time since the COVID-19 pandemic.

Woori Financial announced on the 17th that Chairman Sohn will conduct the first overseas IR since the pandemic over a three-day, two-night schedule in Singapore. This event was originally planned for the first quarter but was postponed to this month due to the temporary spread of the Omicron variant.

This overseas IR, held for the first time in two years since the pandemic, will target major global asset management firms based in Singapore. Chairman Sohn will directly explain the current status of Korea's macroeconomy, the financial achievements Woori Financial has accomplished since its transition to a holding company, as well as non-financial achievements in the areas of Environmental, Social, and Governance (ESG) and digital innovation.

In particular, he plans to actively communicate with global investors about Woori Financial’s mid-to-long-term vision as a fully privatized company and strategies to enhance corporate value through shareholder-friendly management.

Meanwhile, Woori Financial’s foreign ownership ratio has increased by about 6 percentage points since the beginning of this year. Despite the overall sluggishness of the KOSPI, it is recording the highest stock price growth rate among the four major financial holding companies. The company explains that the background for the increase in foreign ownership and stock price rise includes market expectations that Woori Financial’s profit and loss will improve significantly during the interest rate hike period and the COVID endemic phase, as well as the remarkable improvement in asset soundness over the past three years and favorable evaluations in ESG and digital sectors.

Additionally, due to the increase in the number of tradable shares following full privatization, Woori Financial’s inclusion ratio in major global indices such as MSCI and FTSE has expanded, and foreign investment demand linked to these indices has also increased, leading to expectations that the favorable stock price trend will continue for the time being.

A Woori Financial official stated, "Starting with this Singapore IR, an IR event in the Americas is scheduled for June," adding, "We plan to expand IR activities to Europe, Hong Kong, and other regions, while also actively engaging in communication with domestic investors."