Woori Bank chief wins extra year as rivals await term decisions
Woori Bank CEO Jung Jin-wan has secured a one-year extension of his term, becoming the first among the heads of Korea's five major commercial banks whose terms expire at the end of this year to win another term. Woori Financial Group said Friday that its subsidiary CEO recommendation committee decided to recommend Jung for an additional year, extending his term through Dec. 31, 2027. His…
Woori Bank's CEO, Jung Jin-wan, has been granted an extra year to serve, becoming the first among the five major commercial banks' heads whose terms are set to end this year. Woori Financial Group announced on Friday that their subsidiary CEO recommendation committee voted to endorse Jung for an additional year, extending his term until December 31, 2027. His appointment is contingent on final approval at a shareholders' meeting later in the month.
Jung was originally appointed in November 2024 for a two-year term, with a potential one-year extension depending on his performance. According to Woori Financial, the bank's CEO has focused on bolstering the institution's capital position, expanding its digital platform businesses, and advancing inclusive finance initiatives throughout his tenure.
Specifically, the group highlighted Jung's successful increase of Woori Bank's common equity Tier 1 capital ratio, which was initially lower than that of rival lenders when he assumed his role, to the second-highest level among commercial banks.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
