Lee Bok-hyun: "Im Jong-ryong Must Complete Term as Chairman of Woori Financial Group"

"If Woori Financial's Governance Is Shaken, It Would Be a Problem"
Governor Lee Bok-hyun Stresses the Importance of Stable Governance
Management Evaluation and Subsidiary Integration to Proceed Strictly by Principles

Lee Bok-hyun, Governor of the Financial Supervisory Service, is attending and speaking at a meeting with commercial bank presidents held at the Bankers' Hall in Jung-gu, Seoul on the 19th. Meeting with the bank presidents for the first time this year, Governor Lee plans to discuss internal controls within the banking sector, household debt management, and loan interest rates. 2025.2.19 Photo by Jo Yong-jun

Lee Bok-hyun, Governor of the Financial Supervisory Service, said on the 19th that "if Chairman Lim Jong-ryong suddenly steps down, there could be significant governance issues" regarding Woori Financial Group.

After a meeting with bank presidents held at the Bankers Association in Jung-gu on the same day, Governor Lee told reporters, "Chairman Lim believes that he needs to resolve the situation."

However, he expressed his determination to strictly proceed with the ongoing management evaluation of Woori Financial.

He stated, "The necessity to manage the situation while maintaining Woori Financial's governance is entirely different from the idea that Woori Financial can be handled carelessly," adding, "The management evaluation results and the subsequent subsidiary integration issues will be handled strictly according to principles."

He continued, "From the financial authorities' perspective, it would be preferable for Chairman Lim to complete his term and maintain stable governance, but conversely, from the chairman's or bank president's standpoint, shouldn't they risk their positions to lead structural reform and a complete transformation?"