Chairman Sohn Tae-seung of Woori Financial Group. (Photo: WFG)

Woori Financial Group's Chairman Sohn Tae-seung is making all out efforts to raise prices of the group's shares. He is trying to show his confidence on the future performance of the financial group through multiple stock repurchases while planning overseas investor relations sessions to attract more foreign investment.

Last week, he bought back 5,000 group shares, which is the third such purchase this year Sohn bought 5,000 shares in February and March, respectively. He now owns a total of 53,127 shares of Woori Financial Group.

At the same time, the chairman plans to visit Hong Kong and Japan in late May to meet institutional investors there, including pension funds. The investor relations meetings are aimed at attracting new investment.

Sohn's strong drive came as the group's share prices have not bounced back in line with its handsome business performance. After Woori Bank switched to a holding company in January, its net profit surged to 568.6 billion won in the first quarter Woori surpassed Hana Financial Group to become the nation's third-largest financial group by net profit following Shinhan and KB.

The group's solid performance in the first quarter, however, failed to provide the impetus for the prices of its shares.

Another key task for Sohn to boost stock prices is to bolster its non-banking sector through mergers and acquisitions (Mamp;As). After Woori launched its holding company, the group has made tangible progress in Mamp;As.

It signed a share purchase agreement (SPA) in March to acquire ABL Global Asset Management and Tongyang Asset Management. It also signed a memorandum of understanding to take over Kukje Asset Trust, a privately-held real estate management company.

Now Sohn is seeking to take over insurance and securities companies to make Woori a leading financial holding firm in two to three year.

Woori Financial Group Chairman Sohn Tae-seung is set to visit the Middle East, Europe and North America to meet and attract potential institutional investors.

According to Woori Financial Group, Sohn took off for the Middle East and Europe Wednesday and will continue his overseas roadshows in North America around the middle of this month.

He plans to visit North America once again by the end of this year to meet global major institutional investors there including pension funds. He will also meet investors in the Middle East and Europe after his tour to North America. A series of Sohn's IR tours abroad aim to strengthen the group's networks with foreign and institutional investors, reflecting mounting uncertainties in the global financial market.

“A prolonged trade row between the U.S. and China has led to a global downturn. Central banks across the world are lowering their rates. This discourages investors’ confidence and has plunged share prices of Korea’s banks,” said a Woori Financial Group official.

“Sohn will emphasize the group’s solid earnings during his IR tours abroad. Woori Financial Group also clinched an important acquisition. This will boost the group's future earnings. The group will continue its growth further. Sohn will share the group's vision with foreign investors during his trips.” In April, Woori Financial Group acquired a 65.74 percent stake in Kukje Asset Trust as part of the group's efforts to diversify its business portfolio.

Established in 2007, Kukje attracted 23.6 trillion won ($19.5 billion) worth of trust money while posting a 31.5 billion won net profit last year.

Last month, Woori also raised 400 billion won by issuing subordinated corporate bonds. The firm issued 300 billion won worth of 10-year contingent convertible bonds and 100 billion won of eight-year bonds to strengthen the group's cash reserve.