Woori Bank captured the 2017 Customer Satisfaction Management Award for the 10th year in a row on the heels of the successfully selling its government stake and overcoming a number of failed attempts.
This year marks the bank’s 117th anniversary. The bank got the award as a result of trying to the “Jobsite Management with the Customers Top Priority” management strategy, which pushed for the introduction of new financial products and services segregated from its rivals to give its customers new value.
Under President Lee Kwang-goo’s leadership, the bank introduced Wibee Bank, an integrated mobile platform, to closely help its customers in their daily lives with easy accessibility for financial deals in step with the rapidly changing financial environment in the country. It also set up Collaboration Branches to help the customers to use both the banking facilities and cafes at the same time as part of a strategy to boost customer satisfaction with its banking services.
The bank appointed a CS Leader at every one of its branches throughout the country to take care of the management of staffs’ customer service, which extends as far as holding customer service sessions for staff. The bank has also been holding “CS Leader Start-up Training” to train the CS leaders to make sure that they do their jobs right.
In July 2015, the bank conducted a monthly survey to check up on its customer services to see how effective they. The goal was to boost customer satisfaction at its offices and branches throughout the country. Consultations were also held with customers on the sale of financial products. The survey results were provided to each branch so they could improve their services.
The bank plans to develop its own unique customer service culture by developing a segregated customer service index and upgrading the service quality by making customers’ voices into a resource. As part of management’s plan to boost customer service, the bank asked its staff to always listen to the customers’ voices.
Woori Bank was established as Daehan Cheonil Bank to protect Korea’s commercial supremacy in 1899. With the royal permission of Gojong, the Emperor, national capital was provided to the bank.
As stated in the founding purpose, the currency circulation is the key to success of industries, Woori Bank was to contribute to the development of the nation’s economy by providing support to corporations and SMEs.
Woori Bank will continue to provide more convenient and safe financial services to customers and play important roles as a backbone of Korean financial industry by providing power to citizens and businesses. Strong bank that give strength to all of our customers is Woori Bank.
South Korea’s government has sold a $2.1 billion stake in Woori Bank to multiple investors in its latest bid to privatize the lender and recoup some of the taxpayer money it pumped in to bail out the lender some two decades ago, according to the country’s top financial regulator.
The Korea Deposit Insurance can collect another 2.4 trillion won ($2.1 billion) from the latest stake sale, raising the total of recouped bailout money to 10.6 trillion won 83.4 percent of the public funds injected into Woori.
The Financial Services Commission said recently that the sale of the 29.7 percent stake in tranches to seven successful bidders, including Chinese-owned Tong Yang Life Insurance Co., will reduce state-run Korea Deposit Insurance Corp.’s share in Woori to 21 percent from 51 percent previously. The FSC said the government would continue efforts to sell its remaining share in Woori and keep its promise to return the bank to private hands as soon as possible.
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