Report and Discussion on Corporate Value Enhancement Plan at the Board Meeting on the 21st
Woori Financial Group will announce its plan to enhance corporate value in the third quarter.
On the 24th, Woori Financial stated through the Financial Supervisory Service's electronic disclosure that it held a board meeting on the 21st, during which it reported and discussed the 'Corporate Value Enhancement Plan,' and plans to disclose the plan within the third quarter.
The Corporate Value Enhancement Plan is expected to include shareholder return policies, capital management plans, and asset restructuring plans as part of the domestic stock market value-up program promoted by the government.
After disclosing the Corporate Value Enhancement Plan, Woori Financial intends to actively hold investor relations meetings. As interest in corporate value enhancement plans of major commercial banks has increased, Woori Financial's foreign ownership ratio has risen to nearly 43%. In particular, BlackRock increased its stake in Woori Financial from 5.07% to 6.07%.
Earlier, KB Financial Group announced on the 27th of last month that it would be the first among commercial banks to disclose its 'Corporate Value Enhancement Plan' in the fourth quarter of this year. After sharing the causes of undervaluation of Korean bank stocks and investor opinions with external market experts, KB Financial held in-depth discussions on corporate value enhancement measures such as mid- to long-term capital management, asset growth plans, and shareholder return policies, with outside directors, subsidiary CEOs, and holding company executives gathered in one place.
KB Financial plans to faithfully follow the guidelines related to the corporate value enhancement measures announced by the government and include the current status, future goal setting, plan establishment, and implementation evaluation in its Corporate Value Enhancement Plan.
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