Im Jong-ryong, chairman of Woori Financial Group, has purchased 5,000 shares of Woori Financial Holdings.
Woori Financial announced on September 2 that Im bought the shares on August 24. This purchase comes after the complete integration of Dongyang Life as a subsidiary and the official announcement of the merger between Dongyang Life and ABL Life, signaling a commitment to enhancing corporate value.
The share buyback included participation from Im and a total of 56 executives, including representatives from 16 subsidiaries, as well as key officials from the holding company and banks.
Woori Financial is pursuing diversified revenue structures through balanced growth in both banking and non-banking sectors. The banking division has executed 91% of its annual loan target for productive finance in the first half of this year. In the non-banking sector, the company completed a capital increase for its securities firm in May and began the integration of Dongyang Life and ABL Life last month.
A Woori Financial official stated, "The participation of the group’s management in the share buyback demonstrates a commitment to responsible management and boosting stock prices. We will implement our value enhancement plans to address undervaluation and meet market expectations for shareholder returns."
Im will also hold an investor relations (IR) meeting for European investors this month, following an IR session for Asian investors in June. He plans to discuss the group's profit-generating capabilities, future management direction, and corporate value enhancement plans.
* This article has been translated by AI.
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