Woori Financial Group Inc. (NYSE:WF) Q1 2023 Earnings Conference Call April 24, 2023 3:00 AM ET

Company Participants

Han Hong Sung - Head IR

Yim Jong-Yong - Chairman and CEO

Lee Sung-Wook - Group CFO

Ouk Il-Jin - Group CDO

Park Jang-Geun - Group CRO

Han Hong Sung

Good afternoon. I am Han Hong Sung, the Head of IR at Woori Financial Group. Let me first begin by thanking everyone for taking time to participate in this earnings call for Woori Financial Group.

On today's call, we have the Group CFO, Lee Sung-Wook; Group CDO, Ouk Il-Jin; and Group CRO, Park Jang-Geun.

Before starting, let me walk you through today's agenda. Woori Financial Group had a General Shareholders Meeting on March 24, during which there was a significant change in our management team. Thus, we would like to take this opportunity to have the newly appointed Chairman and CEO, Yim Jong-Yong to say some introductory remarks and go over the future management direction of the group. After his remarks, we will present the financial performance and then go into Q&A. Please note that the Chairman will not be available during the Q&A session as he has other external commitments.

And now, let me pass it over to Chairman, Yim Jong-Yong for his introduction.

Yim Jong-Yong

Good afternoon. I am Woori Financial Group Chairman, Yim Jong-Yong. I feel very happy and honored to have this opportunity to introduce myself to the stakeholders who have shown unwavering support and confidence in Woori Financial Group. The financial markets in Korea and globally are experiencing an increasing volatility on concerns about global economic recession, uncertainties that make it challenging to predict even the near future continue.

In addition, the regulatory environment in the financial sector is changing and we need to be prepared to operate in a business environment different from the past, including increasing demand for larger social role by financial institutions.

I would like to take today's call as an opportunity to share the key focus areas that Woori Financial Group would like to pursue in this quickly evolving environment.

First, we are planning to reshape our corporate culture to dramatically improve our group fundamentals. In particular, we will continue bold innovation to create a new corporate culture such as in the area of internal control and corporate governance to ensure we become the most trusted financial group in the market. It will be the starting point of our long-term efforts to become the most trusted financial group.