Lee Hyo-sik is Finance Desk editor at The Korea Times. He manages finance-related stories on macroeconomics, banks, stocks, bonds, crypto etc. He is passionate about covering what's happening in Korea's financial industry and explaining it to both Korean and non-Korean readers. You can reach him at leehs@koreatimes.co.kr. Your insights and feedbacks are always appreciated.
Woori Bank CEO vows to narrow gap with larger rivals
Woori Bank CEO Jung Jin-wan speaks during a meeting with company executives at Paradise City in Incheon, Friday, outlining the bank's management strategy for 2026. Courtesy of Woori Bank
By Lee Hyo-sik
Woori Bank CEO Jung Jin-wan vowed to narrow the gap with rival banks this year, calling 2026 a critical period to deliver tangible results after laying the groundwork for growth, the lender said Sunday.
Jung made the remarks at the bank’s 2026 management strategy meeting at Paradise City in Incheon Friday. The event was attended by about 900 executives, including senior managers, division heads and branch managers.
“If 2025 was a year to build the foundation and strengthen our competitiveness, 2026 must be the year we prove ourselves through performance,” Jung said. “If we clearly define our direction and drive real change in the field, we can certainly narrow the gap with competitors and reshape the market landscape.”
During the meeting, Jung reviewed the bank’s performance from the previous year and outlined strategic priorities for 2026, urging a shift in sales and customer engagement strategies based on the progress made in restructuring the bank’s operations.
He said Woori Bank plans to enhance specialized channels in corporate banking and wealth management, improve processing efficiency through artificial intelligence (AI), and launch pilot professional consulting centers focused on meeting the needs of salaried workers and small business owners.
The bank also aims to attract more high-quality corporate clients as part of a push for productive finance, while strengthening on-site sales support systems using AI-based tools, Jung said.
“Customers are the starting point,” the CEO said. “Transactions only happen when customers are present, and profits are generated when transactions accumulate. We will turn the expanded customer base into tangible results, including deposits, loans, payment accounts and retirement pension products, to build a foundation for sustainable growth.”
Jung also emphasized the importance of maintaining robust internal controls and information security as the bank expands its customer base and enhances profitability.
“The faster we grow and strengthen our profitability, the more firmly we must uphold the fundamentals of trust, including internal controls and data protection. We will apply a zero-tolerance policy to any violations of basic principles," he said.