Woori Bank announced on Aug. 31 that Bank Woori Sodara was the only bank selected as the best bank for 27 consecutive years in an evaluation by Infobank Magazine, a local financial magazine in Indonesia.
Infobank Magazine, the most authoritative magazine about banking and finance in that country, founded in Indonesia in 1979, selects and announces the best banks by sectors in Indonesia every year.
Bank Woori Sodara obtained high scores in all categories. In particular, the bank received high evaluations in capital adequacy and profitability, and came in first among listed Indonesian banks and Indonesian foreign exchange banks, respectively.
Back in May, in the overall commercial bank evaluation by Investor, Indonesia’s leading economic magazine, Bank Woori Sodara won the 2022 Best Bank Award in Indonesia in the private banking sector.
“This award is even more meaningful as Bank Woori Sodara is the only Indonesian bank owned by a Korean financial group which was selected as the best bank for 27 straight years thanks to its systematic risk management and thorough local customer-oriented business despite a tough business environment caused by the COVID-19 pandemic,” said Hwang Kyu-soon, head of Bank Woori Sodara.
“We will actively support Bank Woori Sodara so that the bank will grow into one of Indonesia’s top 10 banks through local sales such as a customer-oriented digital transformation and the expansion of its local sales workforce,” a Woori Bank official said.
Bank Woori Sodara opened in Indonesia in 1992. Since then, it has built a business base centered on corporate finance. It is now a major bank with US$3.3 billion in assets and about 1,600 employees.
Meeting with MZ Generation Employees
Woori Bank announced on Sept. 5 that InnoThink, an innovative leader group composed of 50 MZ generation employees, made presentations on their corporate culture at a meeting of the Management Council, the highest decision-making body of the management, and shared various opinions with top executives of the bank.
Lee Won-duk, president of Woori Bank, took part in the meeting to spread a horizontal organizational culture by letting MZ generation employees directly participate in major decision-making processes.
In particular, they received favorable reviews of their reports from management by making presentations on corporate cultures among others, using discussion-type two-way presentations much different from traditional one-way presentations.
“I enjoyed the meeting by seeing and understanding decision-making processes at the bank,” said an employee of InnoThink who attended the meeting.
“It will help me grow into a better member of Woori Bank and enjoy communications with the top management.”
“The meeting with InnoThink and watching its presentations were a good opportunity to listen to the opinions of MZ generation employees at Woori Bank,” Lee said.
“We will create a dynamic corporate culture where young employees freely voice creative opinions, and the management actively responds to them.”
Mock Hacking Contest ‘WooriCON’
Woori Bank announced on Aug. 30 that it will hold the second mock hacking contest “WooriCON” from Sept. 26 to 30 in concert with the Financial Security Institute.
This contest will run for the second time following 2021 in the form of a ‘bug bounty’ for university and graduate students to eliminate the potential security vulnerabilities of Woori Bank’s Internet Banking and Woori WON Banking.
Applications for participation can be made from Aug. 30 to Sept. 8. Participants can download application forms from the Woori Bank website.
They need to hand in their applications forms with certificates of studentship and recommendation letters from faculty advisors via e-mail.
Winners will be determined based on the significance of potential vulnerabilities discovered by participants. Five winners will receive a total of 12 million won in prize money.
They will be given extra points in entrance examinations when they apply for positions at Woori Bank or the Financial Security Institute.
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