Anna Jiwon Park has been covering the politics at The Korea Times since the summer of 2024, when she joined the press pool for the Office of the President in Korea. Prior to that, she spent about five years reporting extensively on financial markets, regulatory authorities and the financial industry. She joined The Korea Times in 2019 after spending eight years as a broadcast journalist at Arirang TV, Korea’s leading global broadcaster, covering politics, defense and culture.
Woori Financial chief purchases his bank's stocks on confidence in fundamentals
Woori Financial Group Chairman Son Tae-seung / Courtesy of Woori Financial Group
By Anna J. Park
By Anna J. Park
Woori Financial Group Chairman Son Tae-seung announced Tuesday that he purchased an additional 5,000 shares of the financial group, boosting the total number of Woori stocks he owns to 118,127. This is the third time this year that he purchased Woori Financial shares.
His purchase sends a message to the market of his confidence in the group's fundamentals and the positive outlook of the financial company. He has been vocal about buying the group's shares, whenever its price showed signs of an excessive fall compared to its value.
Meanwhile, Son just wrapped up a series of investor relations (IR) meetings in North America that continued for about a week starting late last month. Following a three-day IR session in Singapore in May, Son met with investors in major U.S. cities, including New York and Boston. It was the group's first IR event in two years since the outbreak of the pandemic.
“Foreign investors have been showing an increased level of interest in the group throughout this year, with them taking an increased weight in the group's stock ownership,” an official from Woori Financial Group said.
“The group will continue to work internally on solidifying the fundamentals while expanding external activities in the second half of the year to reach out to larger pools of investors inside and outside of the country,” the official added.