With Yim Jong-ryong, chairperson of Woori Financial Group, selected as the final candidate for the next chairperson, he has effectively secured another term. Woori Financial Group convened its Nominating Committee on the 29th and selected Yim as the sole candidate for the next chairperson.
Nominating Committee Chairperson Lee Kang-haeng said, "During his tenure, he completed the portfolio of a comprehensive financial group by successfully entering the securities business and acquiring an insurance company, and improved financial stability by narrowing the gap in the common equity tier 1 ratio, which had lagged behind other groups," and added, "With an active shareholder-return policy, he more than doubled market capitalization, and through corporate culture innovation, improved the group's credibility. These achievements over the past three years were highly rated by the Nominating Committee members."
After being selected as the next chairperson candidate, Yim issued a statement saying, "We will implement without fail—and with greater speed—the 'Woori Financial Group future co-growth project' for productive and inclusive finance," and added, "Building on the enhanced portfolio through entry into the securities and insurance businesses last year and this year, we will develop into a comprehensive financial group with the capability to generate synergy."
Yim added, "We will devote even more effort to enhancing shareholder value, and we will continue relentless innovation to strengthen consumer protection and internal controls, the benchmarks of trust in finance."
Yim, who took office in Mar. 2023, will lead Woori Financial Group until Mar. 2029 if approved at the regular shareholders meeting scheduled for Mar. next year following a board resolution. In Aug. 2024, Yim acquired Korea Post Securities and launched Woori Investment Securities by merging it with Woori Investment Bank. In May this year, he acquired Tongyang and ABL Life, establishing a comprehensive financial group system spanning banking, securities, and insurance.
Born in 1959, Yim graduated from Yonsei University with a degree in economics and entered public service by passing the 24th Higher Civil Service Examination. He served as director general for financial policy at the Ministry of Finance and Economy, first vice minister at the Ministry of Economy and Finance, and chairperson of the Financial Services Commission (FSC). Earlier, Jin Ok-dong, chairperson of Shinhan Financial Group, and Bin Dae-in, chairperson of BNK Financial Group, were also selected as sole candidates for the next chairperson, effectively securing another term.