Woori Financial Group held a nomination committee meeting on the 28th and recommended four candidates for new outside directors.
The new outside director candidates are Professor Lee Young-seob from Seoul National University's Graduate School of International Studies, Lee Kang-haeng, former vice chairman of Korea Investment Holdings, Kim Young-hoon, former CEO of Daou Technology, and Kim Chun-soo, former CEO of EUGENE Corporation. Among the five whose terms have expired, only Director Yoon In-seob was reappointed.
The nomination committee noted that this outside director restructuring is a measure to strengthen the oversight function of the board and internal committee management and to more effectively perform the role of a control tower for internal controls.
The outside director candidates will be finalized at the regular shareholders' meeting on March 26.
Woori Financial also decided to establish an ethics and internal control committee and increase the number of members on the risk management committee from three to four.
A Woori Financial official said, 'In line with the overall trend of restructuring governance in the financial sector, we revamped the board and recommended four new outside directors,' adding, 'The newly formed board and ethics and internal control committee will play a key role in stabilizing management and enhancing shareholder value based on strengthened internal controls.'