Woori Financial unveils AI-led growth strategy
Woori Financial Chair Yim Jong-ryong highlighted that the group will pursue synergy following the recent acquisition of Tongyang Life Insurance and ABL Life Insurance earlier this month, in addition to the launch of Woori Investment & Securities last year.
"Now that Woori Financial has completed its transition into a comprehensive financial group with the inclusion of a securities firm and insurance companies, this is truly a golden time to demonstrate real synergy," Yim said.
He further stressed the need to push for a company-wide shift to integrate artificial intelligence, which the firm labeled as AI Transformation, or AX.
"AI is no longer just a tool. It is a partner we work alongside. Those who understand and know how to leverage AI will become the key talents of the future," Yim said.
Oak Il-Jin, head of the digital and IT unit at Woori Financial, shared the strategic direction of the group's AX efforts. Twenty-five working-level staff members in charge of AX were introduced, sharing their insights from the field as well.
Lee Jae-jin, professor of computer science and engineering at Seoul National University, gave a lecture, highlighting the importance of securing high-quality training data to support the AI transformation.
Friday's meeting was Woori's first group-wide business management strategy event since the addition of the two new insurers, bringing together some 400 executives and employees from all affiliates, including banking, insurance, card services and securities.
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Korea Herald
13 hours ago
- Korea Herald
Woori Financial unveils AI-led growth strategy
Woori Financial Group held a business management strategy meeting Friday to share its vision for growth centered on group-wide synergy and a shift toward artificial intelligence. Woori Financial Chair Yim Jong-ryong highlighted that the group will pursue synergy following the recent acquisition of Tongyang Life Insurance and ABL Life Insurance earlier this month, in addition to the launch of Woori Investment & Securities last year. "Now that Woori Financial has completed its transition into a comprehensive financial group with the inclusion of a securities firm and insurance companies, this is truly a golden time to demonstrate real synergy," Yim said. He further stressed the need to push for a company-wide shift to integrate artificial intelligence, which the firm labeled as AI Transformation, or AX. "AI is no longer just a tool. It is a partner we work alongside. Those who understand and know how to leverage AI will become the key talents of the future," Yim said. Oak Il-Jin, head of the digital and IT unit at Woori Financial, shared the strategic direction of the group's AX efforts. Twenty-five working-level staff members in charge of AX were introduced, sharing their insights from the field as well. Lee Jae-jin, professor of computer science and engineering at Seoul National University, gave a lecture, highlighting the importance of securing high-quality training data to support the AI transformation. Friday's meeting was Woori's first group-wide business management strategy event since the addition of the two new insurers, bringing together some 400 executives and employees from all affiliates, including banking, insurance, card services and securities.
Korea Herald
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Woori Financial unveils AI-led growth plan after insurer M&As
Woori Financial Group held a business management strategy meeting Friday to share its vision for growth centered on group-wide synergy and a shift toward artificial intelligence. Woori Financial Chair Yim Jong-ryong highlighted that the group will pursue synergy following the recent acquisition of Tongyang Life Insurance and ABL Life Insurance earlier this month, in addition to the launch of Woori Investment & Securities last year. "Now that Woori Financial has completed its transition into a comprehensive financial group with the inclusion of a securities firm and insurance companies, this is truly a golden time to demonstrate real synergy," Yim said. He further stressed the need to push for a company-wide shift to integrate artificial intelligence, which the firm labeled as AI Transformation, or AX. "AI is no longer just a tool. It is a partner we work alongside. Those who understand and know how to leverage AI will become the key talents of the future," Yim said. Oak Il-Jin, head of the digital and IT unit at Woori Financial, shared the strategic direction of the group's AX efforts. Twenty-five working-level staff members in charge of AX were introduced, sharing their insights from the field as well. Lee Jae-jin, professor of computer science and engineering at Seoul National University, gave a lecture, highlighting the importance of securing high-quality training data to support the AI transformation. Friday's meeting was Woori's first group-wide business management strategy event since the addition of the two new insurers, bringing together some 400 executives and employees from all affiliates, including banking, insurance, card services and securities.
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Finance CEOs cash in as stocks soar on value drive
Responsible buybacks deliver windfall for executives amid banking rally As Korean financial stocks rally on the back of value enhancement drives, top executives are emerging as key beneficiaries, with CEOs at the four major groups seeing their shareholdings rise by an average of 340 million won ($246,000). As of Monday, shares of Korea's four major banking groups — KB Kookmin, Shinhan, Hana and Woori — have risen an average 58 percent this year. Shinhan, Hana and Woori each notched all-time highs, closing at 71,800 won, 95,600 won and 26,700 won, respectively. Hana and Woori extended gains on Tuesday, testing fresh records. KB Kookmin, the sector's heavyweight, led last year's banking rally with a 53 percent stock surge. Starting 2025 as one of the Kospi's top 10 by market capitalization, it hit an all-time high of 122,000 won per share on July 8, cementing its position at No. 5 with a market cap of 45.2 trillion won and overtaking Hyundai Motor and Hanwha Aerospace. The rally has bolstered shareholder returns, especially for top executives who championed buybacks in the name of responsible management. Hana Financial Group CEO Ham Young-joo emerged as the biggest gainer. His roughly 15,130 treasury shares have increased in value by more than 600 million won this year to about 1.46 billion won, as Hana's stock surged 68 percent. In percentage terms, Woori Financial Group CEO Yim Jong-yong saw the sharpest gain. The value of his holdings rose by 74 percent, or 153.7 million won, in line with Woori's 73 percent jump — the biggest among the four banking groups. Shinhan Financial Group CEO Jin Ok-dong, who holds the largest number of treasury shares among his peers at about 18,900, saw his stake appreciate by 460 million won to 1.36 billion won, tracking Shinhan's 50 percent rise. KB Financial Group CEO Yang Jong-hee also benefited, with the value of his roughly 5,450 shares climbing from about 452 million won to 646.5 million won — a gain of nearly 200 million won this year. Gains are even more pronounced when measured against executives' purchase prices. Hana CEO Ham's roughly 100,000 shares bought at an average of 41,631 won have more than doubled, rising 130 percent. Woori CEO Yim's 10,000 shares purchased at 11,800 won in September 2023 have surged 127 percent. Shinhan's Jin, who acquired 5,000 shares at 34,350 won in June 2023, has seen them more than double to Monday's close of 71,800 won. KB CEO Yang's 5,000 shares bought at around 77,000 won in March 2024 have climbed 54 percent since purchase. Some lower-ranking executives have shown an even deeper commitment to stewardship through their shareholdings. At Woori, Chief Financial Officer Lee Sung-wook owns 13,000 treasury shares — more than CEO Yim's roughly 10,000. Lee reportedly executed eight separate buybacks from early 2020, when he joined the executive team, through September 2023. Shinhan Bank CEO Jung Sang-hyuk, who serves as a registered non-executive director on the group's board, holds 10,700 treasury shares, which have delivered a 77 percent return.
