Key executives of Woori Bank, led by President Sohn Tae-seung, are pictured holding each letter declaring 120th Anniversary of the bank at a ceremony held on Jan. 4 at Plaza Hotel in downtown Seoul. (Photo: Woori Bank)

Woori Bank celebrated its 120th anniversary on Jan. 4 at the Plaza Hotel in down town Seoul. Some 400 people were in attendance, including its former presidents, outside directors, representatives of reform growth investment firms, staff and clients of the bank’s branches first opened over 100 years ago.

The bank first opened its doors in 1899 as the first commercial bank. Back then it was known as Daehan Chunil Bank. The anniversary was celebrated under the banner, “With Customers for 120 Years and Our Future.”

Related events included a presentation of a plaque for appreciation. The appreciation plaque was presented to former manager of the Myungdong branch Kim Yun-taek, 96, who started his banking career by joining the Commercial Bank, the predecessor of Woori Bank, as a clerk for the Mokpo branch. He rose steadily, eventually becoming manager of the Woori Bank Myungdong branch before retiring.

Chairman Sohn Tae-seung of the Woori Financial Group, in his congratulatory speech, said the bank’s history extended for 120 years and pledged to make his utmost effort to keep the bank’s growth momentum on track for another century.

The bank’s social duty is also a key theme, he said, as well as the preservation of the national economy.

He also noted that this year is the centennial of last monarch of the Joseon Dynasty, late emperor Kojong, adding that the anniversary celebration this year has a double meaning at the age-old Doksu Palace, where the breath of the late ruler is still felt, can be seen from the place where the celebrating event was held.

In the meantime, Woori Bank is holding an event from Jan. 4 to Feb. 28 to pass out commemorative gifts to clients for its 120th anniversary, The “Respond to the 1899” event is made of three gift presentation segments, the first segment being the gift presentation to the clients who hold the Woori 120 Years Deposit and Installment Savings Accounts, the 20 Years Woori Installment Savings Account and the Woori Travel Installment Savings Account.

A gold bar weighing 120 grams will be given to one customer, laundry driers to 30 customers, and air cleaners to 30 customers, dish washers to 30 customers, and Starbucks coupons for 1,808 customers.

In the second segment, the customers who hold the 120 Years Customer Company Deposit and Installment Savings Account will be entitled to the two-day air tickets to Jeju island. 120 customers will be selected for the air tickets. The Starbucks gifts will be provided to 1899 customers.

The 3rd segment will be about the customers who transferred their bank accounts to Woori Bank from other banks during the gift presentation period from Jan. 4 to Feb. 28. The gifts include the Starbucks coupon for one customer and one more coupon for the customers who used Woori credit card to pay for something worth around 100,000 won until the 20,000 coupons are given to the customers.

Woori Bank Co., Ltd., together with its subsidiaries, provides commercial banking products and services to retail and individual customers, and corporations. It operates through Consumer Banking, Corporate Banking, Investment Banking, Capital Market, and Credit Card segments.

The company offers salary, fixed deposit, savings, and ordinary and business deposit products; and professional, deposit mortgage, apartment, and mortgage loans, as well as corporate operating, facility, and policy loans. It also provides inquiry and retirement pension, bulk and automatic transfer, cash management, and foreign direct investment services.