Woori Bank announced on August 22 that it held a ceremony to inaugurate the “Zero Accident Supporters,” who will perform audit support roles within the sales and headquarters departments in order to become a bank without financial accidents.
The Zero Accident Supporters will play its roles as part of the Inspection Function Innovation Plan prepared by the Inspection Division to set up a thorough internal control system.
The supporters are composed of 69 employees from the field and bank headquarters, who are in charge of internal control at Woori Bank or have related ability and talent.
They will provide information on domains with a high probability of financial accidents and areas, where system and process improvements are needed, identify best practices for financial accident prevention, and conduct activities to raise employees’ awareness of financial accidents.
Woori Bank will reward outstanding employees by evaluating the activities of supporters in their respective fields, and in particular, excellent supporters will be managed as a pool of manpower for the Inspection Division to enhance the bank’s operational effectiveness.
Woori Bank will also implement financial accident prevention training for employees at branches across the nation for two months from September to raise their awareness of financial accidents and instill professionalism into them.
“At the group level, we are also preparing and actively implementing innovative measures to raise awareness and strengthen capabilities related to internal control,” said a Woori Bank official said.
“As the importance of internal control in the banking sector has recently been emphasized, Woori Bank will do its best to achieve perfect internal control by actively utilizing this supporters program.”
Total Overseas Migration Service in Partnership with Kookmin Emigration Corp.
Woori Bank announced on August 13th that it signed a strategic partnership (MOU) with Kookmin Emigration Corp., a consulting company specializing in overseas migration, to provide total overseas emigration services.
Since its establishment in 2004, Kookmin Emigration Corp. has been providing one-stop legal and tax services with 20 years of know-how in investment in and business immigration to the United States, Australia, and Canada, and has recorded the highest number of successful cases in the U.S. EB-5 investment immigration and E-2 business visa categories.
Through this partnership, Woori Bank will connect customers planning to relocate overseas to Kookmin Emigration Corp. to provide specialized counseling services, and provide one-stop services for complex foreign exchange matters such as the remittance of overseas relocation expenses and property transfer filing and even comprehensive wealth management services through specialized PB services.
Bank Woori Saudara Honored as Best Bank in Indonesia
Woori Bank announced on August 17 that its Indonesian subsidiary, Bank Woori Saudara was honored as the best bank for the 28th consecutive year in a banking evaluation conducted by Infobank Magazine.
Infobank is Indonesia’s most authoritative financial magazine founded in 1979 which categorizes all banks in Indonesia into four groups and annually selects and announces the best bank in each group in seven categories including risk management and corporate governance.
In this year's evaluation conducted by Infobank, Bank Woori Saudara received the highest rating for asset quality and liquidity management, ranking as the best bank in the evaluated group and fifth among 106 banks.
As a result of this assessment, Bank Woori Saudara has been recognized as the best bank for 28 years running since 1995 and took home the Crown Trophy.
The Crown Trophy is awarded to a bank that has been recognized as the best bank for more than 25 consecutive years. Bank Woori Saudara has become the only Korean bank to win the trophy in Indonesia.
Meanwhile, Woori Bank made a foray into Indonesia in 1992 and established a business base centered on corporate banking.
In 2014, the Korean bank successfully merged with Bank Sodara to form Bank Woori Saudara. As of the end of June this year, Bank Woori Saudara is a mid-to-large-sized Indonesian bank with US$3.5 billion in assets, about 1,600 employees, 159 networks. It is among top 20 banks in terms of assets in Indonesia.
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