WOORI FINANCIAL GROUP Business Summary

Woori Financial Group Inc. (WF) operates as a diversified financial holding company, generating revenue through net interest income from its extensive loan portfolio, fee-based commissions in wealth management and investment banking, and insurance premiums. The Group’s primary business segments include Banking (Woori Bank), Credit Cards (Woori Card), Specialized Finance (Woori Financial Capital), and its recently expanded non-banking arms: Woori Investment & Securities (launched in 2024) and Insurance (following the 2025 acquisitions of Tongyang Life and ABL Life). As of early 2026, the company is executing a strategic pivot to reduce its banking dependency to 80% by leveraging cross-selling synergies across its new brokerage and insurance affiliates. Its primary direct competitors are KB Financial Group, Shinhan Financial Group, and Hana Financial Group; within this "Big Four" landscape, Woori currently holds the fourth-largest market position but is aggressively closing the gap through digital transformation and inorganic growth in the non-banking sector. Leadership is spearheaded by Chairman and CEO Yim Jong-yong, a former Chairman of the Financial Services Commission and Vice Finance Minister, who was recently nominated for a second three-year term starting in March 2026 to oversee the Group's transition into a full-fledged financial conglomerate. The executive team includes Il-Jin Oak, Vice President of Digital/IT, who brings a pedigree from top-tier consultancies including BCG and EY, and Sung-Wook Lee, Vice President of Finance. The Group's governance is supported by a board of independent directors with deep industry expertise, such as In-Sub Yoon (former CEO of ING Life Korea) and Kang-Haeng Lee (former Vice Chairman of Korea Investment Holdings). Following its full privatization in 2024, notable institutional investors include BlackRock (7.01%), the Employee Stock Ownership Association (8.32%), and strategic partners such as Korea Investment & Securities and Fubon Life Insurance.