Woori Financial Group Replaces All 6 Subsidiary CEOs Upon Term Expiry... Recommends First Female CEO

First External Expert Recommended as Head of Card Company
Jung Hyun-ok, Deputy Head of Financial Consumer Protection Group, Recommended as CEO of Woori Credit Information
Generational Change Based on Expertise, Innovation, and Sales Power... Change and Renewal Spread Throughout the Group

On the 20th, Woori Financial Group held a Subsidiary CEO Candidate Recommendation Committee (SCCC) meeting and announced the completion of CEO candidate recommendations for six subsidiaries: Woori Card, Woori Financial Capital, Woori Asset Trust, Woori Financial F&I, Woori Credit Information, and Woori Fund Service.

The Woori Financial SCCC recommended the following final CEO candidates: Jin Sung-won, former Head of Operations at Hyundai Card, for Woori Card; Ki Dong-ho, former Head of Corporate Investment Finance Division and CIB Group Leader at Woori Bank, for Woori Financial Capital; Kim Beom-seok, former Head of Domestic Sales Division and Personal Group Leader at Woori Bank, for Woori Asset Trust; Kim Geon-ho, former Head of Treasury Market Group at Woori Bank, for Woori Financial F&I; Jeong Hyun-ok, former Head of Financial Consumer Protection Group at Woori Bank, for Woori Credit Information; and Yoo Do-hyun, former Head of Management Planning Group at Woori Bank, for Woori Fund Service.

With this, Woori Financial has carried out a sweeping personnel renewal across the entire group by replacing all six subsidiary CEOs whose terms have expired, following the replacement of the CEO of its flagship subsidiary, Woori Bank.

First, the Woori Financial SCCC broke with tradition by recommending an external expert as the final candidate for the first time for the card company CEO position. Candidate Jin Sung-won is an industry expert with over 30 years of experience in the card industry, starting from Samsung Card in 1989, with proven capabilities in key areas such as marketing, CRM, retail, and operations. The SCCC explained that they made a bold move to appoint an external expert to create new growth momentum amid the recent stagnation since the launch of Woori Card in 2014. In particular, having experienced various business models and corporate cultures at Samsung Card, Hyundai Card, and Lotte Card, Jin is considered the right person to strengthen Woori Card’s industry standing as it establishes its own payment network.

Additionally, Woori Financial is set to appoint its first female CEO since the holding company’s reestablishment in 2019. Candidate Jeong Hyun-ok, recommended for Woori Credit Information, born in 1970, represents a new generation. She joined Woori Bank in 1992 and has held positions such as Head of Gangnam Sales Headquarters, Head of Investment Product Strategy Group, and Vice President of Financial Consumer Protection Group, gaining diverse work experience and an innovative mindset. The SCCC expects Jeong to demonstrate strong drive in a highly competitive industry, achieving improvements in bond recovery rates and strengthening growth engines in the non-performing loan review sector.

Candidate Ki Dong-ho, recommended for Woori Financial Capital CEO, joined Woori Bank in 1993 and has served as Head of Yeouido Corporate Sales Headquarters, Vice President of the IB Group, and Head of Corporate Investment Finance Division. The SCCC believes Ki’s expertise and field experience in IB and corporate finance will further enhance Woori Financial Capital’s corporate finance competitiveness.

Candidate Kim Beom-seok, recommended for Woori Asset Trust CEO, joined Woori Bank in 1990 and is an expert in credit screening and real estate finance, having served as Head of Large Corporate Screening Department, Vice President of Real Estate Finance Group, and Head of Domestic Sales Division. The SCCC recognized him as the right person to stably manage issues such as turnkey projects and diversify the business portfolio of the asset trust company.

Candidate Kim Geon-ho, recommended for Woori Financial F&I CEO, joined Woori Bank in 1988 and has worked in various fields including treasury market, overseas sales, and synergy sales, holding positions such as Head of Global Investment Support Center, Head of Future Business Promotion Division at Woori Financial Group, and Vice President of Treasury Market Group at Woori Bank. Since Woori Financial F&I was launched in 2022 and quickly established itself in the NPL market, Kim is regarded as the right person to strongly pursue sustainable growth through strengthening core business competitiveness and organizational system improvements by 2025.

Candidate Yoo Do-hyun, recommended for Woori Fund Service CEO, joined Woori Bank in 1994 and has proven his management capabilities in various fields such as strategy, finance, and human resources through roles including Chief of Staff, London Branch Manager, and Vice President of Management Planning Group. Yoo is expected to strengthen fund service administrative capabilities, attract new administrative management from large asset management companies, and accelerate marketing to institutions and REITs.

Woori Financial Group evaluated that following the holding company and bank executive personnel appointments on the 12th, the recent subsidiary CEO candidate recommendations have laid the groundwork for change and innovation. A Woori Financial official stated, “We recommended CEO candidates with expertise, innovativeness, and sales capabilities through thorough internal and external verification,” adding, “We expect the CEOs to lead change and innovation, establish a stronger internal control foundation, and restore Woori Financial’s trust through remarkable business performance.”

The six subsidiary CEO candidates recommended by the Woori Financial SCCC are scheduled to be officially appointed at each subsidiary’s shareholders’ meeting at the end of December and will begin their official duties starting January of the new year.