"If There Are Issues, Strict Punishment Must Follow"
"Evaluation Factors Include Whether Bank CEO Candidates Are Diligent in Their Main Duties"
Im Jong-ryong, Chairman of Woori Financial Group, announced on the 5th that Woori Bank is conducting an internal investigation related to its involvement in the 'Daejang-dong Lobbying Allegations.'
On the same day, after a Memorandum of Understanding (MOU) ceremony held at Woori Bank Jongno 4-ga Financial Center in Jongno-gu, Seoul, aimed at preventing financial fraud against small merchants in traditional markets, Chairman Im told reporters, “We have launched an investigation to clarify the facts and will examine the matter thoroughly.” He added, “We will deploy internal experts from the Inspection Office and Legal Office to accurately verify the facts reported in the media and the contents of recorded transcripts to determine whether the matter was handled according to appropriate regulations.” He further stated, “The investigation will be conducted as quickly as possible.”
Regarding the Financial Supervisory Service’s commencement of an on-site inspection of Woori Bank, he said, “If there are any issues, they must be rectified immediately, and those involved should face strict punishment without delay.” The Financial Supervisory Service has been conducting an on-site inspection of Woori Bank since the 3rd, following the bank’s recent search and seizure by prosecutors related to the Daejang-dong allegations.
He also expressed his position on the ongoing appointment of the Woori Bank president. In response to criticism that a recent appointee as a subsidiary CEO is included among the candidates for the bank president, Chairman Im emphasized, “This is an additional process involving competency tests or interviews, so there is no reason for the main job to be disrupted,” and stressed, “Even how faithfully one performs their main duties is an evaluation factor.”
Regarding support measures for win-win finance, he said, “While financial support is important, it must be accompanied by related services such as management consulting and fraud prevention.” He added, “We have launched a new product that offers interest rate benefits to small merchants and will support them with a goal of 30,000 accounts.”
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