Latest news with #Yim
Korea Herald
a day ago
- Business
- 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
a day ago
- Business
- Korea Herald
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.
Korea Herald
6 days ago
- Business
- Korea Herald
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.
Korea Herald
13-07-2025
- Business
- Korea Herald
Woori chief vows to bolster newly acquired Tongyang, ABL
Woori Financial Group, one of South Korea's leading financial services providers, announced Sunday that it held a celebratory event to welcome Tongyang Life Insurance and ABL Life Insurance as newly integrated subsidiaries. The event, titled 'Woori WON Day,' took place Friday in Seoul and underscored the group's commitment to evolving into a comprehensive financial group. With the addition of the two insurers, Woori's portfolio now spans banking, securities, and insurance services. Held under the slogan 'When we come together, we become Woori,' the celebration brought together 461 participants, including Woori Financial Group Chairman Yim Jong-ryong, executives from Tongyang and ABL Life and representatives from Woori's other affiliates. 'Tongyang and ABL Life are now part of the Woori family. From this day on, we are each other's insurers,' said Yim during the event. Woori Financial completed its acquisition of the two insurance firms on July 2, nearly 10 months after signing a stock purchase agreement in August 2024. He pledged to respect each company's expertise and autonomy while offering full support to help them grow as insurance providers. As part of the event, Woori Financial Group presented project funding to Tongyang and ABL Life to expand the group's corporate social responsibility initiative, where all 17 affiliates carry out tailored public interest projects. The ceremony concluded with a business kit presentation and a networking dinner to foster unity and cooperation among employees. Meanwhile, Yim visited the headquarters of Tongyang and ABL Life on Tuesday to encourage employees and reaffirm his commitment to unity and open communication through a meeting with the labor unions of both companies.
Los Angeles Times
06-06-2025
- Entertainment
- Los Angeles Times
At Our Lady of the Angels, free organ recitals unleash the majesty of Los Angeles
Even in a building as massive as the Cathedral of Our Lady of the Angels in downtown, the organ stands out. How could it not? Standing 85 feet tall behind the right side of the altar, weighing 42 tons, featuring over 6,000 pipes and bearing the epic name Opus 75, it looks half smokestacks, half battleship and all awesome. It's regularly used during Mass and has hosted organists from around the world since its 2003 debut. But what's coolest about Opus 75 — and what not enough people know — is that the Cathedral holds free lunchtime recitals featuring its star instrument on the first Wednesday of each month. As an organ fanatic, I have long wanted to attend one. I finally had the chance this week. Accompanied by my Times colleague (and fellow classical music head) Ruben Vives, I arrived at the cathedral during the daily 12:10 service, just before the Eucharist. Resident organist Sook Hyun Kim worked the King of Instruments like the seasoned pro she is, including a moving version of 'Make Me a Channel of Your Peace' — an apropos hymn for the era of Pope Leo XIV. About 40 people representing the breadth of L.A. — white, Latino, Asian, Black and all age groups — spread out across the pews after Mass ended to listen to guest organist Emma Yim. The 22-year-old graduated from UCLA (Go Bruins!) two years ago with degrees in biology and organ performance. She is pursuing a master's from our alma mater in the latter discipline, does research for a UCLA Department of Medicine women's health lab and also plays the cello. Man, and I thought I covered a lot of ground! Her choice for the cathedral recital: three of the five movements from French composer Charles-Marie Widor's Symphony No. 5. It would be Yim's first time playing Opus 75. The first movement was mostly variations on a cascading theme. Kim stood to Yim's side to flip the pages of the score while the latter's hands leaped around the rows of the organ's keys. Yim played at first like she didn't want to tempt the power of the behemoth before her — the notes were soft and cautious. But during Widor's playful second movement, the young adults in attendance who had been on their smartphones began to pay attention. Heads began to sway with every swirl of Baroque-like chords that Yim unleashed. 'I could hear elements of 'Lord of the Rings' in there,' Ruben whispered to me as we looked on from our center pews. She skipped two movements to perform the Fifth's fifth, better known as Widor's Toccata. Its soaring passages have made it a popular song for weddings. More people began to poke their head in from the hallways that ring the cathedral's worship space to see what was going on. Yim became more animated as she worked the keys and foot pedals faster and faster. High-pitched arpeggios accentuated resonant bass notes. Kim stopped flipping the score, stepped back and looked on in awe like the rest of us as Yim roused Opus 75 to its full might. The majesty of L.A. suddenly crossed my mind. Even in tough times like these, it's unsurpassed in beauty, in its people and especially in its capacity to surprise and delight in places expected and not. It's people like Yim and performances like hers that stir us all forward to a better place. The recital ended. 'Beautiful, just beautiful,' Ruben said, and I agreed. The applause the crowd gave Yim was swallowed up by the cathedral's size and our sparse numbers, but she was visibly moved. 'Thank you all for coming,' the youngster quietly said, and we all went off to our day. Kim told Ruben and me that the cathedral's organ series will take a summer break before it relaunches in September. See you then! Polly says, 'My dad used to love the saying, 'if you're not living life on the edge, you're taking up too much space!' He would say it as reminder for himself and to my sister and I to not overthink things and to just let loose, stop worrying, or try something new.' Peter says, 'I was around 8 or 9 years old and prattling on about something I knew nothing about, when my father sternly admonished me. He said 'Peter, you only learn when you listen, never when you talk.' His words resonated and got me to my core.' Email us at essentialcalifornia@ and your response might appear in the newsletter this week. Today's great photo is from Times photographer Juliana Yamada at the Manhattan Beach home of Paul and Cailin Goncalves, who turned their formerly compartmentalized home and ADU into a bright, flexible family home. Kevinisha Walker, multiplatform editorAndrew Campa, Sunday writerKarim Doumar, head of newsletters How can we make this newsletter more useful? Send comments to essentialcalifornia@ Check our top stories, topics and the latest articles on
