Woori Financial Group Chairman Jong-ryong Yim Purchases 5,000 Shares

[Financial News] Woori Financial Group announced on the 2nd that Chairman Jong-ryong Yim purchased 5,000 shares of the company's stock (Woori Financial Group stock) on the open market on the 24th of last month.
This share purchase took place when the approximately four-month process of making Tongyang Life Insurance a wholly owned subsidiary was completed and the integration of Tongyang Life Insurance and ABL Life Insurance Co., Ltd. was officially announced. This is seen as a move to once again convey to the market the company's commitment to enhancing corporate value based on securing growth momentum in both the banking and non-banking sectors.
Woori Financial Group is accelerating efforts to secure growth engines in both its banking and non-banking sectors. The banking sector executed 91% of its annual productive finance loan target early in the first half of this year, while the non-banking sector completed a paid-in capital increase for its securities firm last May and began full-scale integration of its life insurance company last month. This balanced growth between the banking and non-banking sectors is leading to diversification of the group's revenue structure and enhanced profitability.
In addition, a total of 56 people participated in the share purchase, including Chairman Jong-ryong Yim, the representatives of all 16 subsidiaries, and executives of the holding company, bank, and major subsidiaries.
A Woori Financial Group official stated, "The fact that Chairman Jong-ryong Yim and the entire group management team have jointly embarked on a share purchase is an expression of their firm commitment to practicing responsible management and boosting the stock price. Based on securing growth momentum, we will faithfully implement the value-up plan, which is a promise to the market, to resolve the undervaluation and meet expectations for shareholder returns."
Meanwhile, Chairman Jong-ryong Yim is scheduled to hold investor relations (IR) meetings for European investors this month.

[email protected] Ye Byeong-jeong Reporter