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Korea Herald
4 days 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
4 days 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
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.
