Woori Financial chairman to host first solo investor relations event in Hong Kong

Woori Financial Group Chairman Yim Jong-yong speaks at a branch opening ceremony in Seoul, March 2023. Yonhap

Woori Financial Group Chairman Yim Jong-yong is set to hold his first solo overseas investor relations event since taking office, the group said Thursday.

Starting Wednesday, Yim will visit Hong Kong for three days to meet with major shareholders and global institutional investors.

The session will focus on outlining the group's growth strategy following the recent regulatory approval to incorporate Tongyang Life and ABL Life as affiliates. He also plans to share the group’s future policies on shareholder returns, as well as its approach to soundness and risk management.

This marks Yim’s first solo overseas investor relations event since his appointment in March 2023. Last September, he participated in a joint session in London alongside heads of other major domestic financial holding companies.

The upcoming event in Hong Kong is expected to be a starting point for Yim to pursue a more proactive overseas campaign this year. In a letter sent to global investors in January, Yim stated he would actively seek opportunities to meet with overseas investors in person and listen to diverse perspectives.

"Foreign ownership in Woori Financial Group rose by 8 percentage points over the past year," a Woori Financial Group official said. "The stock price is now at its highest level since the transition to a holding company structure."

Its stock price has risen 17 percent so far this year, hitting an all-time high of 18,060 won on May 15. Its stock price closed at 17,980 won Thursday.

Yim is also scheduled to visit Indonesia from Monday to Wednesday before heading to Hong Kong. He will review the business operations of Bank Woori Saudara and Woori Card, and meet with and encourage local employees.