Woori Financial Group Establishes Consumer Protection Division... CEOs of 10 Subsidiaries Retained

Woori Financial Group announced on January 9 that it has established a new Consumer Protection Division and newly appointed a Chief Consumer Protection Officer (CCO).

A panoramic view of Woori Financial Group.

This organizational restructuring and personnel appointment focused on consumer protection and organizational stability. The newly established Consumer Protection Division at the holding company will oversee and manage consumer protection policies and operations across all subsidiaries, including banking, securities, and insurance.

Ko Wonmyung, Head of ESG Management, has been promoted to Executive Director and will serve as the holding company's CCO. The company explained that, departing from the previous practice where the CCO of a subsidiary such as the bank also served as the holding company's CCO, it has now appointed a dedicated CCO at the holding company to establish a control tower.

On the same day, Woori Financial Group convened the Subsidiary CEO Candidate Recommendation Committee to recommend CEO candidates for 11 subsidiaries. Among the 11 subsidiaries, only the CEO of Woori FIS was replaced, with Ko Yongsoo, former Deputy President of Woori Bank's Information Security Group, appointed as the new CEO. For the remaining 10 subsidiaries, the current CEOs will remain in their positions for another year, considering strategic continuity and organizational stability.