Woori Chairman Vows to Make Most of New Opportunities, Surmounting Difficulties in 2023
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Woori Chairman Vows to Make Most of New Opportunities, Surmounting Difficulties in 2023
Woori Financial Group donates 200 million won to the Korea Youth Shelter Association in honor of the start of the New Year

28(Sat), Jan, 2023




Woori Financial Group donates 200 million won to the Korea Youth Shelter Association at Woori Financial Group's headquarters in Jung-gu, Seoul on January 2. Woori Chairman Sohn Tae-seung poses for a photo with Korea Youth Shelter Association Chairman Koh Seung-duk and other officials. (Photo: Woori Financial Group)


Sohn Tae-seung, chairman of Woori Financial Group, presented a growth strategy for 2023. Key to the strategy is linking digital platforms and strengthening the group¡¯s non-banking sector. 

¡°We will harness new management goals for 2023 such as securing a competitive edge and enhancing corporate value as driving force,¡± Chairman Sohn said in his New Year's address on Jan. 2. 

¡°2023 will be a year in which the fear of a recession is felt even more,¡± Sohn emphasized. ¡°However, if we endure and overcome this crisis, a greater opportunity will knock for us.¡± 

Chairman Sohn announced detailed tasks to attain the management goals in 2023. As his top priority strategy, Sohn cited the expansion of core business competences and promoting differentiated future growth drivers.

To this end, Woori Financial Group has decided to ramp up group synergies through an integrated group platform that can cover Woori WON Car, WON Members, and One Biz Plaza and joint sales systems for group affiliates. 

It also plans to accelerate the expansion of its non-banking business portfolio through the acquisitions of securities companies, insurers and venture capital firms.

Woori Financial Group will pursue the strategy of ¡°expanding a customer-centered digital platform¡± by going beyond transforming into an existing digital platform company. 

Its non-face-to-face customer base will be strengthened to expand the group¡¯s functions as a life-friendly platform through the expansion of a connection between financial and non-financial services, such as those by Woori Bank and Woori Card.

Woori Financial Group will also sharpen its technological competitiveness, such as artificial intelligence (AI), data, non-fungible tokens (NFTs) and blockchains. 

As Woori Financial Group went through difficulties in internal control in 2022, it will also zero in on ¡°strengthening risk management in response to uncertainties¡± and ¡°making the internal control system more sophisticated¡± this year.

Woori Financial Group mapped out a plan to focus on the management of asset soundness, capital ratios, and liquidity by the end of the first half of 2023 and expand measures such as the advanced prevention of financial accidents. 

Sustainable growth in the environmental, social and governance (ESG) sector will receive much attention in the coming year. 

Woori Financial Group decided to spread a creative organizational culture that promotes new businesses for climate responses such as green carbon (forest-absorbed carbon) and blue carbon (ocean-absorbed carbon) projects, and hire talented people based on their capabilities and expertise.

¡°Based on our strengths that have solidified the group system, we must fly farther and higher this year,¡± Chairman Sohn said. ¡°Let¡¯s soar strongly and steadily with a strong determination.¡±

Meanwhile, Woori Financial Group announced that it donated 200 million won to the Korea Youth Shelter Association to help runaways youths spend winter warmly in honor of the start of the New Year of 2023 on Jan. 2. 

This donation was planned for the emotional stability of adolescents who ran away from their homes due to domestic abuse, violence and conflicts at home and family breakups, and need social protection and support.

The money donated will be used for various projects so youths will be able to live in a nice environment even in cold winter by experiencing cultural events and supporting heating costs at youth shelters.

Accordingly, the youths will be able to visit popular places which they want to visit such as amusement parks, museums, and performance halls by reflecting the opinions of about 1,400 teenagers living in 141 youth shelters across the country. 

In addition, during this winter season when a cold wave continues, Woori Financial Group will pay for heating service bills for the youth shelters for two months so that the youths will be able to live healthy in winter.

¡°I strongly feel the need to raise people¡¯ awareness of the protection of runaway youths and have a lot of interest in helping them grow and become constructive members of our society,¡± Chairman Sohn said. 

¡°Woori Financial Group will continue to strengthen support for the socially marginalized.¡± 

   
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