6-K

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OFFOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2025

Commission File Number: 001-31811

Woori Financial Group Inc.

(Translation of registrant’s name into English)

51, Sogong-ro, Jung-gu, Seoul, 04632, Korea

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒    Form 40-F ☐

Table of Contents

Index

1.	Summary of 2024 Business Report
-	For the Audit Reports of Woori Financial Group for Fiscal Year 2024, please refer to the exhibits to theForm 6-K furnished to the U.S. Securities and Exchange Commission on March 5, 2025.
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Summary of 2024 Business Report

Table of Contents

I.	INTRODUCTION OF THE COMPANY		5
	1.	Overview of the Company	5
	2.	Capital Structure (Changes in Capital)	11
	3.	Total Number of Authorized Shares	13
II.	BUSINESS OVERVIEW		14
	1.	Results of Operations	14
	2.	Funding Sources and Uses of Funds	14
	3.	Other Information Necessary for Making Investment Decisions	15
III.	FINANCIAL INFORMATION		20
	1.	Condensed Financial Statements (Consolidated)	20
	2.	Condensed Financial Statements (Separate)	22
	3.	Dividend Information	24
IV.	INDEPENDENT AUDITOR’S OPINION		27
	1.	Independent Auditor’s Opinion	27
	2.	Compensation to the Independent Auditor	27
V.	CORPORATE GOVERNANCE		29
	1.	About the Board of Directors	29
	2.	Shareholders’ Meetings	31
VI.	SHAREHOLDER INFORMATION		34
	1.	Share Distribution	34
	2.	Stock Price and Stock Market Performance	35
VII.	DIRECTORS AND EMPLOYEE INFORMATION		37
	1.	Directors and Executives	37
	2.	Employee Status	38
	3.	Directors’ Compensation	38
VIII.	INTERNAL CONTROLS		39
	1.	Management’s Assessment of the Effectiveness of the Internal Accounting Management System	39
	2.	Audit Committee’s Assessment of the Effectiveness of the Internal Accounting Management System	39
	3.	External Auditor’s Audit Opinion (Review Report) on the Effectiveness of the Internal Accounting Management System	39

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Except where indicated otherwise, financial information contained in this document (including the attached financial statements) has been prepared in accordance with the Korean equivalent of International Financial Reporting Standards (“Korean IFRS”), which differ in certain important respects from generally accepted accounting principles in the United States.

All references to “Woori Financial Group,” “we,” “us” or the “Company” are to Woori Financial Group Inc. and, unless the context requires otherwise, its subsidiaries. In addition, all references to “Won” or “KRW” in this document are to the currency of the Republic of Korea.

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I.	Introduction of the Company
1.	Overview of the Company
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a.	History (Recent 5 years)
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October 26, 2020	Entered into a share purchase agreement to acquire Aju Capital Co., Ltd.
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December 10, 2020	Integrated Woori Financial Capital Co., Ltd., (formerly known as Aju Capital Co., Ltd.) as a first-tier subsidiary of the Company
	Integrated Woori Savings Bank (formerly known as Aju Savings Bank) as a second-tier subsidiary of the Company
January 15, 2021	Joined the Carbon Disclosure Project (CDP), announced support for the Task force on Climate related Financial Disclosure (TCFD) and established the ESG management principles of Woori Financial Group
March 5, 2021	Established the Board ESG Management Committee
March 12, 2021	Integrated Woori Savings Bank as a first-tier subsidiary of the Company
April 9, 2021	After-hours trading of a 2% stake in Woori Financial Group held by the Korea Deposit Insurance Corporation
April 15, 2021	Purchased additional equity shares of Woori Financial Capital Co., Ltd., increasing the Company’s equity ownership by 12.9%
May 13, 2021	Participated in the capital increase of Woori Savings Bank (KRW 100 billion)
May 24, 2021	Purchased 3.6% of Woori Financial Capital Co., Ltd. in treasury shares
June 4, 2021	Entered into a stock exchange agreement to acquire the remaining shares of Woori Financial Capital Co., Ltd.
August 10, 2021	Integrated Woori Financial Capital Co., Ltd., as a wholly-owned subsidiary of the Company (Completion of stock exchange)
September 9, 2021	Announcement of contemplated sales of the remaining stake in Woori Financial Group held by the Korea Deposit Insurance Corporation
October 8, 2021	Joined the SBTi (Science Based Targets initiative) as part of the roadmap for achieving carbon neutrality

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November 2, 2021	Obtained regulatory approval for using the IRB (Internal Rating Based) approach
November 9, 2021	Obtained ‘AA’ rating from MSCI ESG assessment (2 grades higher than the previous year), ‘A’ rating from KCGS(Korea Corporate Governance Service)(1 grade higher than the previous year)
November 17, 2021	Included newly in Asia Pacific Index of DJSI (Dow Jones Sustainability Indices)
December 9, 2021	Achieved practically full privatization through the decrease of the KDIC’S stake in us from 15.1% to 5.8%, changing the largest shareholder from the KDIC to the Employee Stock Ownership Association of Woori Financial<br>Group
December 26, 2021	Launched the Group integrated car finance platform “Woori WON Car”
January 7, 2022	Officially launched the NPL investment company Woori Financial F&I Inc.
January 13, 2022	Joined the global environment initiative Taskforce on Nature-related Financial Disclosures (TNFD)
February 4, 2022	Recognized as an ‘Industry Mover’ in a sustainability assessment by S&P Global for 2022
February 10, 2022	Disposal by the Korea Deposit Insurance Corporation of a 2.2% stake in Woori Financial Group (reducing the KDIC’s stake in Woori Financial Group from 5.8% to 3.6%)
May 11, 2022	Became the first company in the world to join the launch of the ‘Business for Land (B4L) Initiative’ for the protection of sustainable forests and the recovery of land degradation
May 18, 2022	Disposal by the Korea Deposit Insurance Corporation of a 2.3% stake in Woori Financial Group (reducing the KDIC’s stake in Woori Financial Group from 3.6% to 1.3%)
June 19, 2022	Held the inaugural meeting of Woori Financial Future Foundation
August 22, 2022	Joined the ‘Partnership for Biodiversity Accounting Financials(PBAF)’ as the first Asian company
November 7, 2022	Held the global conference ‘Sustainable Finance for a Better World’

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December 14, 2022	Signatory of Statement from the Financial Sector at the Conference of the Parties to the ‘UN Convention on Biological Diversity(UN CBD)’
December 29, 2022	Received ‘AA’ rating from MSCI ESG Research for 2 consecutive years
January 16, 2023	Completed the establishment of the ‘WON Synergy’ system to create effective synergy within group companies
January 26, 2023	Became the first financial company in Korea to join the ‘Finance Leadership Group on Plastics’ hosted by ‘UN Environment Programme Finance Initiative (UNEP FI)’
February 27, 2023	Entered into a stock purchase agreement to acquire Daol Investment (52% ownership)
March 23, 2023	Daol Investment, re-named Woori Venture Partners, incorporated as a subsidiary into Woori Financial Holdings
March 24, 2023	Jong-Yong Yim appointed as the 9th chairman of Woori Financial Group (4th annual general meeting of shareholders of Woori Financial Group)
April 21, 2023	Resolved to repurchase and cancel treasury shares, a first-time since the transition to a holding company
June 01, 2023	Entered into a comprehensive stock exchange agreement with Woori Investment Bank and Woori Venture Partners
August 08, 2023	Woori Investment Bank and Woori Venture Partners to each become a wholly-owned subsidiary of Woori Financial Group
August 24, 2023	Group Carbon Emission Reduction Target validated by SBTi (Science Based Targets initiative)
October 05, 2023	Entered into a memorandum of understanding with the Korea Deposit Insurance Corporation to purchase its remaining stake in Woori Financial Group (1.2%)
December 22, 2023	A capital increase of KRW 500 billion conducted by Woori Investment Bank (to enhance competitiveness)
December 26, 2023	Obtained an ‘AAA’ rating from MSCI ESG assessment

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December 26, 2023	Obtained an ‘AAA’ rating from MSCI ESG assessment
March 13, 2024	Resolved to acquire and cancel the remaining shares owned by the Korea Deposit Insurance Corporation
August 1, 2024	Established Woori Investment Securities Co., Ltd. as a new direct subsidiary
August 28, 2024	Entered into share purchase agreements to acquire Tongyang Life Insurance and ABL Life Insurance
September 24, 2024	Included in the ‘KRX Korea Value-up Index’
November 28, 2024	Launched the new universal banking mobile application NEW ‘Woori WON Banking’
December 17, 2024	Included in the Dow Jones Sustainability Indexes (DJSI) World Index
b.	Affiliated Companies
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(1)	Overview of Business Group
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1.	Name of business group: Woori Financial Group Inc.
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(2)	Affiliated companies within the business group
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As of December 31, 2024

Type	Name of Company
Listed company<br><br><br>(3 companies)	Woori Financial Group
	PT Bank Woori Saudara Indonesia 1906 Tbk
	PT Woori Finance Indonesia Tbk
Unlisted company<br> <br>(34<br>companies)	Woori Bank
	Woori Card
	Woori Financial Capital
	Woori Investment Securities
	Woori Asset Trust
	Woori Savings Bank
	Woori Financial F&I Inc.
	Woori Asset Management
	Woori Venture Partners
	Woori Private Equity Asset Management
	Woori Credit Information
	Woori Fund Services

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Type	Name of Company
	Woori FIS
	Woori Finance Research Institute
	Korea BTL Infrastructure Fund
	Woori America Bank
	Woori Bank China Limited
	AO Woori Bank
	Banco Woori Bank do Brazil S.A.
	Woori Global Markets Asia Limited
	Woori Bank Vietnam Limited
	Wealth Development Bank
	Woori Finance Myanmar Co., Ltd.
	Woori Bank (Cambodia) PLC.
	Woori Bank Europe Gmbh
	Tutu Finance-WCI Myanmar Co., Ltd.
	WFBS Financial Stability Private Equity Fund No.1
	Woori Venture Partners US, Inc.
	KTBN GI Private Equity Fund
	Arden Woori Apparel 1st Private Equity Fund
	Woori Dyno 1st Private Equity Fund
	Green ESG Growth No.1 Private Equity Fund
	Woori Corporate Turnaround No.1 Private Equity Fund
	NH Woori Dino Co-Investment No.2 Private Equity<br>Fund
Note 1)	Includes first-tier and second-tier subsidiaries under the Financial Holding Company Act
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1)	Including group company shares 34.80%
2)	Including group company shares 36.36%
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2.	Capital Structure (Changes in Capital)

(units: Won, shares)

Date	Item	Type
		Common Shares		Preferred Shares		Others
December 31, 2024	Number of issued shares		742,591,501		—		—
	Par Value		5,000		—		—
	Capital Stock		3,802,676,300,000		—		—
December 31, 2023	Number of issued shares		751,949,461		—		—
	Par Value		5,000		—		—
	Capital Stock		3,802,676,300,000		—		—
December 31, 2022	Number of issued shares		728,060,549		—		—
	Par Value		5,000		—		—
	Capital Stock		3,640,302,745,000		—		—
December 31, 2021	Number of issued shares		728,060,549		—		—
	Par Value		5,000		—		—
	Capital Stock		3,640,302,745,000		—		—
December 31, 2020	Number of issued shares		722,267,683
	Par Value		5,000
	Capital Stock		3,611,338,415,000
Note 1)	Our common shares of 680,164,306 were issued in January 2019 upon our establishment and the number of our common shares increased by 42,103,377 as a result of a comprehensive stock exchange that took place between Woori Financial<br>Group and Woori Card in September 2019.
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Note 2)	The number of our common shares increased by 5,792,866 on August 10, 2021 due to a comprehensive stock exchange to integrate Woori Financial Capital as a wholly-owned subsidiary.
Note 3)	The number of our common shares increased by 32,474,711 as a result of a comprehensive stock exchange that took place on August 8, 2023 to convert Woori Investment Bank and Woori Venture Partners as our wholly-owned<br>subsidiaries.
Note 4)	On October 30, 2023, the number of our common shares was reduced by 8,585,799 due to the cancellation of our treasury shares acquired through a trust agreement.
Note 5)	On March 22, 2024, the number of our common shares was reduced by 9,357,960 due to the cancellation of all of the treasury shares acquired from the Korea Deposit Insurance Corporation.
Note 6)	As the treasury share cancellations in October 2023 and March 2024 were conducted within the limits of profits available for dividends, there was no reduction in paid-in capital.<br>Accordingly, our paid-in capital as of December 31, 2023 and 2024 did not match the par value of the total number of issued shares.

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As of December 31, 2024	(units: Won, shares)
Date	Category			Stock Decrease/Increase
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
			Type			Quantity			ParValue		Issueprice		Note
January 11, 2019		—			Common		680,164,306			5,000		26,415		Establishment<br> <br>(comprehensive stock<br>transfer)
September 10, 2019		—			Common		42,103,377			5,000		12,350		Comprehensive stock exchange<br> <br>Stock increase<br>ratio: 6.19018%
August 10, 2021		—			Common		5,792,866			5,000		11,100		Comprehensive stock exchange<br> <br>Stock increase<br>ratio: 0.80204%
August 8, 2023		—			Common		32,474,711			5,000		11,520		Comprehensive stock exchange<br> <br>Stock increase<br>ratio: 4.46044%
October 30, 2023		—			Common		(8,585,799	)		5,000		—		Cancellation of treasury shares
March 22, 2024		—			Common		(9,357,960	)		5,000		—		Cancellation of treasury shares
Note 1)	Due to Woori Financial Group’s establishment through a comprehensive stock transfer, the issue price was calculated by dividing the total equity from its financial statements at the time of establishment (KRW<br>17,966,458,911,689) by the total number of issued shares (680,164,306).
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Note 2)	Our capital changed in September 2019 and August 2021 due to a comprehensive stock exchanges. The issue prices were based on the closing stock price on the comprehensive stock exchange date.
Note 3)	On October 30, 2023, we canceled our treasury shares (8,585,799 common shares) acquired through a trust agreement. This share cancellation falls under the provision of Article 343, Paragraph 1 of the Commercial Code, and as it<br>involves the cancellation of treasury shares acquired within the limits of distributable profits, the paid-in capital remains unchanged despite the decrease in the number of the total issued shares (common<br>shares).
Note 4)	On March 22, 2024, we canceled the 9,357,960 shares we acquired as treasury shares from the Korea Deposit Insurance Corporation. This share cancellation falls under the provision of Article 343, Paragraph 1 of the Commercial<br>Code, and as it involves the cancellation of treasury shares acquired within the limits of distributable profits, the paid-in capital remains unchanged despite the decrease in the number of the total issued<br>shares (common shares).

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3.	Total Number of Authorized Shares
As of December 31, 2024	(unit: shares)
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Items	Type				Notes
---	---	---	---	---	---	---	---
	Common Shares		Total
Number of authorized shares		4,000,000,000		4,000,000,000		—
Number of issued shares		760,535,260		760,535,260		—
Number of decreased shares		17,943,759		17,943,759		Cancellation<br>of Treasury<br> Shares<br>Note 1	)
Number of treasury shares		53,945		53,945		Note 2	)
Number of outstanding shares		742,537,556		742,537,556		—
Note 1)	Cancellation of treasury shares: 8,585,799 shares (October 2023), 9,357,960 shares (March 2024)
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Note 2)	Acquired from the issuance of fractional shares (2,322 new fractional shares were added in August 2021 due to the comprehensive stock exchange between Woori Financial Group and Woori Financial Capital. 51,621 shares from<br>comprehensive stock exchange between Woori Financial Group-Woori Investment Bank and Woori Financial Group-Woori Venture Partners, etc.)

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II.	Business Overview
1.	Results of Operations
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(unit: billions of Won)

Type	2024			2023		2022
Operating income		4,255			3,499		4,431
Non-operating income		(32	)		18		55
Income from continuing operations before income tax		4,223			3,517		4,485
Income tax expense from continuing operations		1,051			891		1,161
Income from discontinued operations		—			—		—
Net income		3,171			2,627		3,324
Controlling Interest		3,086			2,506		3,142
Non-controlling Interest		85			121		182
Note 1)	Based on K-IFRS consolidated financial statements
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2.	Funding Sources and Uses of Funds
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a.	Sources of Funds
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For the periods indicated other than as noted below	(units: millions of Won, %)
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Classification	Funding Source	2024						2023						2022
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		AverageBalance		InterestRate		Proportion		AverageBalance		InterestRate		Proportion		AverageBalance		InterestRate		Proportion
Source	Deposits		351,584,810		2.88		69.89		324,824,465		2.83		68.98		313,019,768		1.45		68.21
	Borrowings		28,000,803		4.09		5.57		28,052,983		4.02		5.96		27,296,742		1.99		5.95
	Debentures		43,989,333		4.00		8.74		42,458,653		3.55		9.02		45,945,392		2.26		10.01
	Others		44,591,752		—		8.86		42,829,998		—		9.09		42,537,152		—		9.27
	Total<br>Liabilities		468,166,698		—		93.06		438,166,099		—		93.05		428,799,054		—		93.44
Total Equity			34,913,425		—		6.94		32,708,219		—		6.95		30,082,662		—		6.56
Total Liabilities & Equity			503,080,123		—		100.00		470,874,318		—		100.00		458,881,716		—		100.00
Note 1)	Average Balance : simple average of the starting balance for the fiscal year and the balance at the end of each quarter
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Note 2)	Based on K-IFRS consolidated financial statements

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b.	Use of Funds
For the periods indicated other than as noted below	(units: millions of Won, %)
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Type	Managed Item	2024							2023							2022
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Average<br>Balance		Interest<br>Rate		Proportion			AverageBalance		InterestRate		Proportion			AverageBalance		InterestRate		Proportion
	Cash & Due from Banks		18,441,851		3.38		3.67			16,692,268		3.26		3.54			16,097,533		1.52		3.51
	Marketable securities		76,997,821		3.53		15.31			75,522,522		3.61		16.04			68,661,882		1.50		14.96
	Loans		360,802,414		4.93		71.72			334,205,508		5.08		70.98			326,710,683		3.73		71.20
	Loans in local currency		309,771,603		4.65		61.58			287,312,990		4.84		61.02			280,414,033		3.53		61.12
	Loans in foreign Currency		34,224,957		6.58		6.80			31,215,114		6.64		6.63			30,916,107		4.54		6.74
	Guarantee payments		11,571		1.96		0.00			14,567		2.28		0.00			21,260		2.67		0.00
	Credit card receivables		12,224,048		7.33		2.43			11,215,186		6.85		2.38			10,026,037		7.24		2.18
	Foreign bills bought		4,570,235		5.58		0.91			4,447,651		5.33		0.95			5,333,246		2.58		1.16
	Bad debt expense in local currency (-)		3,198,795		—		(0.65	)		2,609,403		—		(0.55	)		2,128,867		—		(0.46	)
	Others		50,036,832		—		9.95			47,063,423		—		9.99			49,540,485		—		10.79
Total Assets			503,080,123		—		100.00			470,874,318		—		100.00			458,881,716		—		100.00
Note 1)	Average Balance : simple average of the starting balance for the fiscal year and the balance at the end of each<br>quarter
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Note 2)	Based on K-IFRS consolidated financial statements<br>
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3.	Other Information Necessary for Making Investment Decisions
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a.	Capital Adequacy Ratios
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Group BIS Capital Adequacy Ratios

As of the end of the period indicated	(units: billions of Won, % )
Type	2024	2023	2022
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Equity capital (A)	36,928	34,756	31,404
Risk weighted assets (B)	235,100	219,792	205,307
BIS(Capital adequacy) ratio (A/B)	15.71	15.81	15.30
Note 1)	BIS (Bank for International Settlements) Capital Adequacy Ratios = Equity capital / Risk weighted assets * 100<br>
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Note 2)	Based on K-IFRS consolidated financial statements and Basel III<br>standards
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Note 3)	2024 figures are estimates only and are subject to change
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Capital Adequacy Ratios for Significant Subsidiaries and Consolidated Companies

As of the end of the periods indicated	(units: hundreds of millions of Won, % )
Name of Company	Type		2024		2023		2022
---	---	---	---	---	---	---	---	---
Woori Bank<br><br><br>Note 2)	BIS capital adequacy ratio<br><br><br>Note 1)	Equity capital (A)		304,302		282,379		261,191
		Risk weighted assets (B)		1,920,087		1,760,737		1,674,322
		Capital adequacy ratio (A/B)		15.85		16.04		15.60
Woori Card<br><br><br>Note 3)	Adjusted capital ratio			17.70		16.03		16.54
	Tangible common equity ratio			12.37		10.97		11.28
Woori Financial Capital<br><br><br>Note 3)	Adjusted capital ratio			15.09		14.35		13.78
	Tangible common equity ratio			11.83		11.48		10.66
Woori Investment Securities<br><br><br>Note 4)	Net capital ratio			2,098.64		—		—
	Debt-to-asset ratio			119.41		—		—
Woori Asset Trust<br><br><br>Note 5)	Operating capital ratio			4,057.29		1,284.26		1,189.77
Woori Asset Management<br><br><br>Note 3)	Minimum operating capital ratio			739.31		650.26		681.18
Woori Venture Partners<br><br><br>Note 6)	Tangible common equity ratio			95.70		90.82		90.92
Woori Savings Bank<br><br><br>Note 7)	BIS capital adequacy ratio<br><br><br>Note 1)			16.37		13.21		18.06
Woori Private Equity Asset Management<br><br><br>Note 3)	Minimum operating capital ratio			8,161.97		8,618.79		8,937.76
Note 1)	BIS (Bank for International Settlements) Capital Adequacy Ratio : Equity capital / Risk weighted assets * 100<br>
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Note 2)	Figures for Woori Bank are based on K-IFRS consolidated financial<br>statements and Basel III standards. 2023 figures are estimates only and are subject to change
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Note 3)	Figures for Woori Card, Woori Financial Capital, Woori Asset Management, Woori Private Equity Asset Management<br>are based on the applicable standards for business reports submitted to the Financial Supervisory Service and our K-IFRS separate financial statements
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Note 4)	Figures for Woori Investment Securities (established in August 2024) are calculated as follows:<br>
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-	Net capital ratio: (net operating capital – total risk amount)/required maintenance capital x 100 // based<br>on the applicable standards for business reports submitted to the Financial Supervisory Service
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-	Debt-to-asset ratio: (actual<br>assets)/(actual liability) x 100 // based on K-IFRS separate financial statements
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-	Woori Investment Bank maintained BIS capital adequacy ratios of 15.15% and 24.17% in 2022 and 2023,<br>respectively (based on K-IFRS consolidated financial statements)
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Note 5)	Woori Asset Trust’s operating capital ratio = (net operating capital – subordinated debt,<br>etc.)/(total risk amount) x 100 // based on K-IFRS separate financial statements
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Note 6)	Figures for Woori Venture Partners are based on K-IFRS consolidated<br>financial statements
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Note 7)	Figures for Woori Savings Bank are based on K-GAAP<br>
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b.	Liquidity Ratios

Won Liquidity Ratios

As of the end of the periods indicated	(units: millions of Won, % )
Type	2024						2023						2022
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	Won<br>Liquidity<br>Assets		Won<br>Liquidity<br>Liabilities		Won<br>Liquidity<br>Ratio		Won<br>Liquidity<br>Assets		Won<br>Liquidity<br>Liabilities		Won<br>Liquidity<br>Ratio		Won<br>Liquidity<br>Assets		Won<br>Liquidity<br>Liabilities		Won<br>Liquidity<br>Ratio
Woori Financial Group Note 1)		353,835		10,905		3,244.7		111,895		8,155		1,372.1		316,876		7,656		4,138.9
Woori Card Note 2)		8,722,587		2,785,182		313.2		9,119,265		2,454,480		371.54		8,282,745		1,832,484		452.0
Woori Financial Capital Note 2)		1,850,758		1,317,695		140.5		1,919,083		1,245,067		154.1		2,468,298		1,205,067		204.8
Woori Investment Securities Note 2)		4,982,461		2,660,153		187.3		4,032,290		1,926,080		209.4		3,128,499		1,802,149		173.6
Woori Asset Trust Note 2)		258,758		9,311		2,779.2		171,860		18,555		926.2		232,036		32,755		708.4
Woori Savings Bank Note 2), Note3)		344,437		216,143		159.4		434,495		231,003		188.09		534,678		384,493		139.1
Woori Venture Partners Note 2)		136,198		6,877		1,980.4		103,367		7,210		1,433.6		109,432		10,707		1,022.1
Woori Private Equity Asset Management<br><br><br>Note 2)		16,011		2,912		549.8		27,506		2,396		1,147.8		23,226		1,897		1,224.4
Note 1)	Based on current assets and liabilities within one month of maturity
---	---
Note 2)	Based on current assets and liabilities within 90 days of maturity Note 3) Based on K-GAAP
---	---

Foreign Currency (FC) Liquidity Ratios

As of the end of the periods indicated	(units: millions of Won, % )
Type	2024						2023						2022
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	FC<br>Liquidity<br>Assets		FC<br>Liquidity<br>Liabilities		FC<br>Liquidity<br>Ratio		FC<br>Liquidity<br>Assets		FC<br>Liquidity<br>Liabilities		FC<br>Liquidity<br>Ratio		FC<br>Liquidity<br>Assets		FC<br>Liquidity<br>Liabilities		FC<br>Liquidity<br>Ratio
Woori Investment Securities<br><br><br>Note 1)		2,581		2,146		120.24		9,450		7,362		128.36		65,102		63,365		102.74
Note 1)	Based on current assets and liabilities within three months of maturity
---	---

Liquidity Coverage Ratios

(unit: % )

Name of Company	Type	2024		2023		2022
Woori Bank	Liquidity coverage ratio Note 1)		104.79		101.26		102.40
	Foreign currency liquidity coverage ratio Note 2)		184.29		162.75		143.11
	Ratio of business purpose premises and equipment		9.95		10.20		11.04
Note 1)	LCR: Average of daily ratios during a quarter (same as the calculation method used for business disclosure)<br>
---	---
-	2024 year-end regulatory ratio: 97.5%, 2023 year-end regulatory ratio: 95.0%, 2022 year-end regulatory ratio: 92.5%
---	---

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Note 2)	Foreign currency LCR: ratio calculated based on averages of the amount of each category (same as the<br>calculation method used for business disclosure)
-	Regulatory ratio after 2022: 80.0%
---	---
Note 3)	The applicable periods for LCR and foreign currency LCR are: 4Q2024, 4Q2023 and 4Q2022
---	---
c.	Profitability Ratios Note 1), Note 2)
---	---

(unit: %)

Type	2024				2023				2022
	ROA		ROE		ROA		ROE		ROA		ROE
Woori Financial Group
Including non-controlling interests		0.61		9.60		0.54		8.65		0.70		12.21
Excluding non-controlling interests		0.60		9.34		0.52		8.25		0.66		11.54
Note 1)	Total assets and total equity : simple average of the starting balance for the fiscal year and the ending<br>balance of each quarter
---	---
Note 2)	Based on the applicable standards for business reports submitted to the Financial Supervisory Service.<br>
---	---

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d.	Asset Quality

Group Asset Quality

(units: billions of Won, % )

Type	2024		2023		2022
Total loans		390,066		365,780		343,821
Substandard and below loans		2,211		1,357		1,082
Substandard and below ratio		0.57		0.37		0.31
Non-performing loans (“NPL”)		1,786		1,299		997
NPL ratio		0.46		0.36		0.29
Substandard and below coverage ratio (A/B)		153.0		220.1		217.6
Loan loss reserve (A)		3,382		2,986		2,354
Substandard and below loans (B)		2,211		1,357		1,082
Note 1)	Based on the applicable standards for financial holding company business reports submitted to the Financial<br>Supervisory Service
---	---

Asset Quality for Significant Subsidiaries and Consolidated Companies

(units: % )

Type	2024						2023						2022
	Substandardand belowratio		NPLratio		Substandardand belowcoverageratio		Substandardand belowratio		NPLratio		Substandardand belowcoverageratio		Substandardand belowratio		NPLratio		Substandardand belowcoverageratio
Woori Bank		0.23		0.19		247.44		0.18		0.17		320.84		0.19		0.16		263.43
Woori Card		1.07		—		105.46		0.97		—		104.92		0.80		—		104.92
Woori Financial Capital		1.91		—		134.18		2.37		—		113.21		1.22		—		198.56
Woori Investment Securities Note 3)		7.29		—		84.37		0.55		—		578.29		0.63		—		151.81
Woori Asset Trust		77.68		—		—		32.11		—		—		32.23		—		—
Woori Savings Bank<br><br><br>Note 2)		9.82		—		77.43		3.53		—		101.66		3.22		—		97.54
Note 1)	Based on the applicable standards for business reports submitted to the Financial Supervisory Service<br>
---	---
Note 2)	Based on K-GAAP
---	---
Note 3)	Numbers for 2023 and 2022 reflect those of Woori Investment Bank. Woori Investment Securities was established<br>in August 2024, following the merger of Korea Foss Securities and Woori Investment Bank.
---	---

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III.	Financial Information
1.	Condensed Financial Statements (Consolidated)
---	---

Summary Consolidated Statement of Financial Position

(The Company and its consolidated subsidiaries, as of the end of the periods<br>indicated)	(unit: millions of Won)
Classification	2024			2023			2022
---	---	---	---	---	---	---	---	---	---
ASSETS
Cash and cash equivalents		27,281,123			30,556,618			34,219,148
Financial assets at fair value through profit or loss (“FVTPL”)		25,202,672			21,544,756			19,860,573
Financial assets at fair value through other comprehensive income		43,797,745			37,891,495			33,085,080
Securities at amortized cost		19,203,177			23,996,172			28,268,516
Loans and other financial assets at amortized cost		398,471,816			373,148,148			355,760,729
Investments in joint ventures and associates		1,748,810			1,795,370			1,305,636
Investment properties		450,788			472,768			387,707
Premises and equipment		3,370,585			3,176,759			3,142,930
Intangible assets and goodwill		1,091,402			996,842			849,114
Assets held for sale		73,989			20,345			13,772
Net defined benefit asset		146,109			240,260			319,280
Current tax assets		61,613			203,542			53,274
Deferred tax assets		72,937			93,366			109,299
Derivative assets (designated for hedging)		175,191			26,708			37,786
Other assets		4,605,363			3,841,787			3,061,552
Total assets	****	525,753,320	****	****	498,004,936	****	****	480,474,396	****
LIABILITIES
Financial liabilities at FVTPL		9,896,597			6,138,313			8,952,399
Deposits due to customers		366,821,156			357,784,297			342,105,209
Borrowings		30,117,031			30,986,746			28,429,603
Debentures		48,207,103			41,239,245			44,198,486
Provisions		611,428			806,031			545,865
Net defined benefit liability		5,424			6,939			35,202
Current tax liabilities		127,126			103,655			843,555
Deferred tax liabilities		858,822			470,311			31,799
Derivative liabilities (designated for hedging)		102,815			153,007			202,911
Other financial liabilities		32,314,051			26,115,005			22,811,868
Other liabilities		796,498			803,897			690,157
Total liabilities	****	489,858,051	****	****	464,607,446	****	****	448,847,054	****
EQUITY
Owners’ equity:		34,096,836			31,666,881			28,761,897
Capital stock		3,802,676			3,802,676			3,640,303
Hybrid securities		3,810,435			3,611,129			3,112,449
Capital surplus		934,100			935,563			682,385
Other equity		(1,400,885	)		(1,668,957	)		(2,423,392	)
Retained earnings		26,950,510			24,986,470			23,750,152
Non-controlling interests		1,798,433			1,730,609			2,865,445
Total equity	****	35,895,269	****	****	33,397,490	****	****	31,627,342	****
Total liabilities and equity	****	525,753,320	****	****	498,004,936	****	****	480,474,396	****
Number of consolidated subsidiaries (excluding holding company)	****	188	****	****	179	****	****	167	****

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Summary Consolidated Statement of Comprehensive Income

(The Company and its consolidated subsidiaries, for the periods indicated)	(unit: millions of Won, except per share amounts)
Classification	2024			2023			2022
---	---	---	---	---	---	---	---	---	---
Operating income	****	4,255,190	****	****	3,499,029	****	****	4,430,524	****
Net interest income		8,886,336			8,742,540			8,696,579
Net fees and commissions income		2,086,170			1,720,481			1,710,170
Dividend income		310,320			240,293			159,982
Net gain or loss on financial instruments at FVTPL		1,492,783			488,486			238,502
Net gain or loss on financial assets at FVTOCI		96,620			(37,641	)		(21,498	)
Net gain or loss arising on financial assets at amortized cost		286,885			203,942			74,204
Impairment losses due to credit loss		(1,716,295	)		(1,894,916	)		(885,272	)
General and administrative expenses		(4,468,973	)		(4,443,433	)		(4,529,890	)
Other net operating expenses		(2,718,656	)		(1,520,723	)		(1,012,253	)
Non-operating income (expenses)	****	(32,343	)	****	18,424	****	****	54,850	****
Net income before income tax expense	****	4,222,847	****	****	3,517,453	****	****	4,485,374	****
Income tax expense	****	(1,051,378	)	****	(890,559	)	****	(1,161,392	)
Net income	****	3,171,469	****	****	2,626,894	****	****	3,323,982	****
Net income attributable to owners		3,085,995			2,506,296			3,141,680
Net income attributable to the non-controlling<br>interests		85,474			120,598			182,302
Other comprehensive income (loss), net of tax	****	382,719	****	****	663,537	****	****	(239,819	)
Items that will not be reclassified to profit or loss		(200,341	)		122,334			216,767
Items that may be reclassified to profit or loss		583,060			541,203			(456,586	)
Total comprehensive income	****	3,554,188	****	****	3,290,431	****	****	3,084,163	****
Comprehensive income attributable to the owners		3,454,620			3,164,464			2,909,053
Comprehensive income attributable to non-controlling<br>interests		99,568			125,967			175,110
Net income per share:
Basic and diluted loss per share (in Korean Won)		3,950			3,230			4,191

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2.	Condensed Financial Statements (Separate)

Summary Statement of Financial Position

(The Company, as of the end of the period indicated)	(unit: millions of Won)
Classification	2024			2023			2022
---	---	---	---	---	---	---	---	---	---
ASSETS
Cash and cash equivalents		1,185,912			289,507			313,361
Financial assets at fair value through profit or loss		—			—			689
Financial assets at fair value through other comprehensive income		553,518			539,709			312,771
Loans and other financial assets at amortized cost		204,431			1,104,815			2,041,877
Investments in subsidiaries		24,206,017			23,670,476			22,394,915
Premises and equipment		5,304			6,609			11,052
Intangible assets		3,308			4,052			4,859
Net defined benefit asset		1,378			3,941			5,947
Current tax assets		33,120			158,951			14,350
Deferred tax assets		4,379			7,478			13,433
Other assets		155,670			484			322
Total assets	****	26,353,037	****	****	25,786,022	****	****	25,113,576	****
LIABILITIES
Debentures		2,037,567			1,587,659			1,447,762
Provisions		1,252			1,227			487
Current tax liabilities		84,701			32,125			721,795
Other financial liabilities		76,382			163,621			46,039
Other liabilities		404			392			591
Total liabilities	****	2,200,306	****	****	1,785,024		****	2,216,674	****
EQUITY
Capital stock		3,802,676			3,802,676			3,640,303
Hybrid securities		3,810,225			3,610,953			3,112,273
Capital surplus		11,120,236			11,120,236			10,909,281
Other equity		(1,189	)		(7,871	)		(26,186	)
Retained Earnings		5,420,783			5,475,004			5,261,231
Total equity	****	24,152,731	****	****	24,000,998	****	****	22,896,902	****
Total liabilities and equity	****	26,353,037	****	****	25,786,022	****	****	25,113,576	****

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Summary Statement of Comprehensive Income

(The Company, for the period indicated)	(unit: millions of Won, except per share amounts)
Classification	2024			2023			2022
---	---	---	---	---	---	---	---	---	---
Operating income	****	1,123,301	****	****	1,424,670		****	1,185,627	****
Net interest income (expense)		2,128			27,495			(5,030	)
Interest income		51,778			64,592			25,614
Interest expense		(49,650	)		(37,097	)		(30,644	)
Net fees and commissions loss		(20,319	)		(20,097	)		(15,059	)
Fees and commissions income		1,625			1,625			1,596
Fees and commissions expense		(21,944	)		(21,722	)		(16,655	)
Dividend income		1,208,522			1,482,956			1,272,393
Net gain (loss) on financial instruments at FVTPL		—			2,023			1,018
Reversal (Provision) of impairment losses due to credit loss		608			(348	)		(244	)
General and administrative expenses		(67,638	)		(67,359	)		(67,451	)
Non-operating expenses	****	(147	)	****	(1,043	)	****	(1,363	)
Net income before income tax expense	****	1,123,154	****	****	1,423,627		****	1,184,264	****
Income tax benefit (expense)	****	178	****	****	881		****	(1,015	)
Net income	****	1,123,332	****	****	1,424,508		****	1,183,249	****
Other comprehensive income (loss), net of tax	****	9,138	****	****	18,916		****	(22,312	)
Items that will not be reclassified to profit or loss		9,138			18,916			(22,312	)
Net gain (loss) on valuation of equity securities at FVTOCI		10,164			19,789			(24,676	)
Remeasurement of the net defined benefit liability		(1,026	)		(873	)		2,364
Total comprehensive Income	****	1,132,470	****	****	1,443,424		****	1,160,937	****
Net Income per share:
Basic and diluted income per share (in Korean Won)	****	1,296	****	****	1,754		****	1,499	****

23

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3.	Dividend Information

As a financial holding company, we distribute dividends to our shareholders using the dividends we receive from our subsidiaries. Our subsidiaries pay dividends to us within the limits of their distributable profits after deducting the necessary internal reserves required to maintain the adequate regulatory capital set by the financial authorities for each sector. As such, our dividend levels are determined based on a comprehensive analysis taking into consideration the current and future asset growth of our subsidiaries and us, as well as the surplus funds after maintaining the appropriate capital adequacy ratios, among others.

In February 2023, we announced our “Shareholder Return Policy and Group Capital Management Plan Based on the Total Shareholder Return (“TSR”) Ratio (including both dividends and treasury share buyback/cancellations)” through our investor relations disclosures. Furthermore, in our business report for the fiscal year 2023, we disclosed the modifications we made to our existing shareholder return policy, including an adjustment to the Common Equity Tier 1 (“CET1”) ratio target from 12% to 13%, taking into consideration the strengthened capital regulations, our enhanced loss absorption capacity, and the overall competitive landscape.

Accordingly, in 2023, for the first time since our establishment, we paid interim dividends (KRW 180 per share for the second and third quarters) and repurchased and canceled treasury shares worth KRW 100 billion. Additionally, we paid a year-end dividend of KRW 640 per share, achieving a TSR of approximately 33.8%. In 2024, we repurchased and canceled all remaining shares (9,357,960 shares) held by the Korea Deposit Insurance Corporation for approximately KRW 136.6 billion, initiated quarterly dividends beginning in the first quarter (KRW 180 per share for each of the first, second and third quarters), and declared a year-end dividend of KRW 660 per share, achieving a TSR of approximately 33.3%. Furthermore, on February 7, 2025, the Board of Directors resolved to acquire and cancel more treasury shares (planned acquisition amount: KRW 150 billion) as part of our continual efforts to enhance shareholder returns.

[TSR for the Past 5 Years]

2020	2021			2022			2023			2024
19.9%		25.3	%		26.2	%		33.8	%		33.3	%

On July 25, 2024, we became the first Korean bank holding company to announce a “Corporate Value Enhancement Plan,” in which we announced that we would strive to enhance corporate value by “enhancing shareholder return capabilities based on the CET1 ratio,” and presented a mid-to-long-term TSR target of 50%. Furthermore, through the February 7, 2025 disclosure relating to our “Corporate Value Enhancement Plan,” we released our review report for 2024 and our future plans for 2025. (For more details, please refer to our website (https://www.woorifg.com), the Financial Supervisory Service’s electronic disclosure website (https://dart.fss.or.kr), and the Korea Exchange’s electronic disclosure website (https://kind.krx.co.kr).)

A summary of the details of our shareholder return plans are as follows:

①	Simultaneously pursuing both cash dividends and treasury share buybacks/cancellations, and gradually increasing<br>their amounts (continually increasing the DPS)
②	Dividing the CET1 ratio ranges into segments and increasing shareholder returns to enhance sustainability and<br>predictability
---	---

24

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Classification	Tier 1	Tier 2	Tier 3	Tier 4
CET1 Ratio	~ 11.5%	11.5% ~ 12.5%	12.5% ~ 13.0%	13.0% ~
Total Shareholder Return (TSR)	~ 30%	~ 35%	~ 40%	~ 50%
Note 1)	TSR and DPS may change based on shifts in the financial environment, regulatory guidance, and management<br>objectives (such as one-time profits and losses through mergers and acquisitions)
---	---
Note 2)	CET1 ratio ranges are based on year-end figures
---	---
③	Maintaining a dividend payout ratio of approximately 30% and allocating any excess amounts to treasury share<br>buybacks/cancellations if the TSR is below 40%, and increasing both the cash dividend payouts and treasury share buybacks/cancellations in a balanced manner if the TSR exceeds 40%.
---	---

Additionally, the “Corporate Value Enhancement Plan Review Report” announced in February 2025 includes the following corporate value enhancement strategies:

1. Striving to achieve a CET1 Ratio of 12.5% in 2025 despite challenging market conditions, including high levels of exchange rates

2. Reallocating part of the capital surplus to retained earnings and using such funds to implement non-taxable dividends, thereby effectively increasing tangible shareholder returns.

-	Our shareholders are expected to approve a transfer of KRW 3 trillion worth of capital surplus to retained<br>earnings at the annual general meeting of shareholders in March 2025. We expect to use such amount to distribute tax-free dividends, beginning with the year-end<br>dividends for fiscal year 2025 (expected to be distributed in April 2026).

3. Expanding treasury share buybacks/cancellations, with KRW 150 billion planned for 2025.

4. Determining the dividend amount before the record date to increase visibility for investors, starting from the first quarter of 2025.

We are committed to faithfully implementing the corporate value enhancement plans that we had previously announced, and will continue our efforts to enhance market predictability and shareholder value. If there are any changes to the shareholder return policy, we will actively communicate them with all stakeholders through notices and disclosures.

According to our Articles of Incorporation, the amount of our year-end dividends are determined through a meeting of the shareholders, while the amount of our quarterly dividends are determined through a resolution of the Board of Directors. We revised our Articles of Incorporation on March 24, 2023 to allow the record date for annual dividends to be set after the amount of such dividends has been determined, and we plan to further amend our Articles of Incorporation at the annual general meeting of shareholders to be held on March 26, 2025 to improve the dividend payment procedures for quarterly dividends also.

25

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Information on the Year-end Dividend Record Dates for the Past 3Years

Dividend Type	Date of Dividend Amount<br><br><br>Determination Note 1)	Record Date	Remarks
Dividend for FY2022	February 8, 2023	December 31, 2022	Approved at the shareholder’s meeting on March 24, 2023
Dividend for FY2023	February 6, 2024	February 29, 2024	Approved at the shareholder’s meeting on March 22, 2024
Dividend for FY2024	February 7, 2025	February 28, 2025	Approved at the shareholder’s meeting on March 26, 2025
Note 1)	Date of the resolution of the Board of Directors
---	---
Items		2024		2023		2022
---	---	---	---	---	---	---	---
Par value per share (Won)			5,000		5,000		5,000
Net profit (Millions of Won)			3,085,995		2,506,296		3,141,680
Earnings per share (Won)			3,950		3,230		4,191
Total cash dividends (Millions of Won)			891,045		747,302		822,705
Total stock dividends (Millions of Won)			—		—		—
Cash dividend payout ratio (%)			28.87		29.82		26.19
Cash dividend yield (%)	Common Shares		6.9		6.7		8.8
	Preferred Shares		—		—		—
Stock dividend yield (%)	Common Shares		—		—		—
	Preferred Shares		—		—		—
Cash dividend per share (Won)	Common Shares		1,200		1,000		1,130
	Preferred Shares		—		—		—
Stock dividend per share (Share)	Common Shares		—		—		—
	Preferred Shares		—		—		—
Note 1)	The dividends for FY2024 include quarterly dividends of KRW 133,657 million (KRW 180 cash dividend per<br>share) for the first quarter, KRW 133,657 million (KRW 180 cash dividend per share) for the second quarter, and KRW 133,657 million (KRW 180 cash dividend per share) for the third quarter
---	---
Note 2)	The dividends for FY2023 include interim dividends of KRW 130,748 million (KRW 180 cash dividend per<br>share) for the second quarter, and KRW 135,341 million (KRW 180 cash dividend per share) for the third quarter
---	---
Note 3)	The dividends for FY2022 include the interim dividends of KRW 109,209 million (KRW 150 cash dividend per<br>share)
---	---
Note 4)	The above cash dividend yield is calculated as the percentage of dividend per share to the arithmetic average<br>price formed in the stock market during the past week, starting from two trading days before the record date. The percentage is rounded to the first decimal place.
---	---

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IV.	INDEPENDENT AUDITOR’S OPINION
1.	Independent Auditor’s Opinion
---	---
	2024	2023	2022
---	---	---	---
Auditor	KPMG Samjong Accounting Corp.	KPMG Samjong Accounting Corp.	Samil PricewaterhouseCoopers
Auditor’s Opinion	Note 1)	Note 2)	Note 3)
Note 1)	In its audit report, KPMG Samjong Accounting Corp. has stated that the financial statements are presented<br>fairly, in all material respects, in accordance with Korean IFRS.
---	---
Note 2)	In its audit report, KPMG Samjong Accounting Corp. has stated that the financial statements are presented<br>fairly, in all material respects, in accordance with Korean IFRS.
---	---
Note 3)	In its audit report, Samil PricewaterhouseCoopers has stated that the financial statements are presented<br>fairly, in all material respects, in accordance with Korean IFRS.
---	---
2.	Compensation to the Independent Auditor
---	---
a.	Audit Services
---	---
Term	Auditor	Description	Contractual		Actual
---	---	---	---	---	---	---
			Fee	Time	Fee	Time
2024	KPMG Samjong Accounting Corp.	1Q/1H/3Q Review<br><br><br>Closing audit (including internal<br><br><br>accounting management system)	KRW<br> <br>1,037 million	9,930<br>hours	KRW<br> <br>1,037 million	9,973<br>hours
2023	KPMG Samjong Accounting Corp.	1Q/1H/3Q Review<br><br><br>Closing audit (including internal<br><br><br>accounting management system)	KRW<br> <br>964 million	9,380<br>hours	KRW<br> <br>964 million	9,613<br>hours
2022	Samil<br><br><br>PricewaterhouseCoopers	1Q/1H/3Q Review<br><br><br>Closing audit (including internal<br><br><br>accounting management system)	KRW<br> <br>1,068 million	9,380<br>hours	KRW<br> <br>1,068 million	8,714<br>hours
Note 1)	Fee excludes VAT
---	---
Note 2)	Time includes planning time up until the commencement of the applicable services
---	---
b.	Other Audit Services
---	---

Not Applicable

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c.	Current Status of Audit Service Agreements with the Independent Auditor Relating to U.S. Listing
Term	Auditor	Description	Fee
---	---	---	---
2024	KPMG Samjong Accounting Corp.	U.S. PCAOB standard audit of consolidated financial statements and internal control over financial reporting (for FY2024)	KRW 2,015 million
2023	KPMG Samjong Accounting Corp.	U.S. PCAOB standard audit of consolidated financial statements and internal control over financial reporting (for FY2023)	KRW 1,891 million
2022	Samil PricewaterhouseCoopers	U.S. PCAOB standard audit of consolidated financial statements and internal control over financial reporting (for FY2022)	KRW 2,240 million
Note 1)	Fee excludes VAT
---	---
d.	Non-Audit Services
---	---
Term	Date of Executionof Agreement	Description of Service	Service Term	Fees
---	---	---	---	---
2024	March 31, 2024	Tax adjustment (including review relating to application of consolidated tax)	April 1, 2024 ~ June 2, 2025	KRW 68 million
2023	March 31, 2023	Tax adjustment (including review relating to application of consolidated tax)	April 1, 2023 ~ May 31, 2024	KRW 64 million
2022	March 30, 2022	Tax adjustment (including review relating to application of consolidated tax)	April 1, 2022 ~ May 31, 2023	KRW 64 million
Note 1)	Fee excludes VAT
---	---

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V.	Corporate Governance
1.	About the Board of Directors
---	---
a.	Composition of the Board of Directors
---	---

As of December 31, 2024, our board of directors consisted of eight directors in total, including seven independent directors and one standing director.

On March 22, 2024, at the annual general meeting of shareholders, five independent directors were appointed.

• New independent directors (2): Eun-Ju Lee, Sunyoung Park / Reappointed independent directors (3): Chan-Hyoung Chung, In-Sub Yoon, Yo-Hwan Shin

On March 22, 2024, one (1) independent director completed her term: Soo-Young Song

The board of directors operates a total of six standing committees: Audit Committee, Risk Management Committee, Compensation Committee, Committee for Recommending Executive Officer Candidates, Committee for Recommending Subsidiary Representative Director Candidates, ESG Management Committee.

At the 4th Extraordinary Board Meeting held on March 22, 2024, the independent director Chan-Hyoung Chung was appointed as the Chairman of the Board. Having served for more than five years since our establishment, he possesses a deep understanding of our organizational culture and management issues. Throughout his tenure as Chairman of the Audit Committee (January 11, 2019 – March 24, 2023) and Chairman of the Board (since March 24, 2023), he has demonstrated strong leadership and shown that he possesses a responsible approach to his duties.

As a former CEO with hands-on experience in the financial industry, he is expected to contribute significantly to our development by offering practical and well-balanced insights. In recognition of his expertise and leadership, he was reappointed as Chairman of the Board of Woori Financial Group with the unanimous consent of all board members. The Chairman of the Board does not concurrently hold the position of CEO.

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b.	Committees under the Board of Directors

We currently have the following committees serving under the board of directors:

(a)	Audit Committee
(b)	Risk Management Committee
---	---
(c)	Compensation Committee
---	---
(d)	Committee for Recommending Executive Officer Candidates
---	---
(e)	Committee for Recommending Subsidiary Representative Director Candidates
---	---
(f)	ESG Management Committee
---	---

(As of December 31, 2024)

Name of Committee	Composition	Names of Members
Audit Committee	Four independent directors	(Chair) Su-Young Yun (independent director)<br><br><br>Chan-Hyoung Chung (independent director)<br> <br>Yo-Hwan Shin<br>(independent director)<br> <br>Sung-Bae Ji (independent director)
Risk Management Committee	Three independent directors	(Chair) In-Sub Yoon (independent director)<br><br><br>Eun-Ju Lee (independent director)<br><br><br>Sunyoung Park (independent director)
Compensation Committee	Four independent directors	(Chair) Yo-Hwan Shin (independent director)<br> <br>In-Sub Yoon (independent director)<br> <br>Chan-Hyoung Chung (independent director)<br><br><br>Su-Young Yun (independent director)
Committee for Recommending Executive Officer Candidates	Seven independent directors	(Chair) Sung-Bae Ji (independent director)<br><br><br>In-Sub Yoon (independent director)<br><br><br>Chan-Hyoung Chung (independent director)<br> <br>Su-Young Yun (independent director)<br> <br>Yo-Hwan Shin (independent director)<br><br><br>Eun-Ju Lee (independent director)<br><br><br>Sunyoung Park (independent director)

30

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Name of Committee	Composition	Names of Members
Committee for Recommending Subsidiary Representative Director Candidates	Seven independent directors<br> <br>One standing<br>director	(Chair) Jong-Yong Yim (standing director)<br> <br>In-Sub Yoon (independent director)<br> <br>Chan-Hyoung Chung (independent director)<br><br><br>Su-Young Yun (independent director)<br><br><br>Yo-Hwan Shin (independent director)<br> <br>Sung-Bae Ji (independent director)<br> <br>Eun-Ju Lee (independent director)<br><br><br>Sunyoung Park (independent director)
ESG Management Committee	Seven independent directors<br> <br>One standing<br>director	(Chair) Eun-Ju Lee (independent director)<br><br><br>In-Sub Yoon (independent director)<br><br><br>Chan-Hyoung Chung (independent director)<br> <br>Su-Young Yun (independent director)<br> <br>Yo-Hwan Shin (independent director)<br><br><br>Sung-Bae Ji (independent director)<br><br><br>Sunyoung Park (independent director)<br> <br>Jong-Yong Yim (standing<br>director)
2.	Shareholders’ Meetings
---	---
a.	Voting Rights
---	---

(unit: shares, as of Dec. 31, 2024)

Items		Number ofshares		Notes
Number of issued shares	Common Shares		742,591,501		—
	Preferred Shares		—		—
Number of shares without voting rights	Common Shares		3,082,276		Note 1	)
	Preferred Shares		—		—
Number of shares for which voting rights are excluded pursuant to the articles of incorporation	Common Shares		—		—
	Preferred Shares		—		—
Number of shares for which voting rights<br><br><br>are limited by law	Common Shares		—		—
	Preferred Shares		—		—
Number of shares for which voting rights<br><br><br>have been restored	Common Shares		—		—
	Preferred Shares		—		—
Number of shares for which voting rights<br><br><br>may be exercised	Common Shares		739,509,225		—
	Preferred Shares		—		—
Note 1)	Treasury shares acquired from the issuance of fractional shares and shares in mutual ownership (pursuant to Article 369 of the Commercial Code)
---	---

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b.	Summary of the Minutes of Shareholders’ Meetings
	Agenda	Result
---	---	---
Extraordinary General Meeting of Shareholder in 2022<br><br><br>(January 27, 2022)	1. Appointment of directors (2 independent directors)<br><br><br>- 1-1 Candidate for independent director : In-Sub Yoon<br><br><br>- 1-2 Candidate for independent director : Yo-Hwan Shin	Approved as submitted
Annual General Meeting of Shareholders for<br>FY2021<br> <br>(March 25, 2022)	1. Approval of financial statements for the fiscal year 2021	Approved as submitted
	2. Approval of amendments to the Articles of Incorporation	Approved as submitted
	3. Appointment of directors (4 independent directors, 1 non-standing director)<br> <br>- 3-1 Candidate for independent<br>director : Soo-Young Song<br> <br>- 3-2 Candidate for<br>independent director : Sung-Tae Ro<br> <br>- 3-3 Candidate for<br>independent director : Sang-Yong Park<br> <br>- 3-4 Candidate for independent director : Dong-Woo Chang<br> <br>- 3-5 Candidate for non-standing director : Won-Duk Lee	Approved as submitted
	4. Appointment of independent director who will serve as an Audit<br>Committee Member<br> <br>- Candidate for independent director who will serve as an Audit Committee Member : Chan-Hyoung Chung	Approved as submitted
	5. Appointment of Audit Committee Members who are independent<br>directors<br> <br>- 5-1 Candidate for Audit Committee Member who is an independent director : Sung-Tae Ro<br> <br>- 5-2 Candidate for Audit Committee Member who is<br>an independent director : Dong-Woo Chang	Approved as submitted
	6. Approval of the maximum limit on directors’ compensation	Approved as submitted
Annual General Meeting of Shareholders for FY2022<br><br><br>(March 24, 2023)	1. Approval of financial statements for the fiscal year 2022 (Jan. 1, 2022 – Dec. 31, 2022)	Approved as submitted
	2. Approval of amendments to the Articles of Incorporation	Approved as submitted
	3. Election of directors (2 independent directors, 1 standing<br>director)<br> <br>- 3-1 Candidate for independent director : Chan-Hyoung Chung<br><br><br>- 3-2 Candidate for independent director : Su-Young Yun<br><br><br>- 3-3 Candidate for standing director : Jong-Yong Yim	Approved as submitted

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	4. Election of independent director who<br>will serve as an Audit Committee Member<br> <br>- Candidate for independent director who will serve as an Audit Committee Member : Sung-Bae Ji	Approved as submitted
	5. Election of Audit Committee Members who are independent<br>directors<br> <br>- 5-1 Candidate for Audit Committee Member who is an Independent director :<br><br><br>Chan-Hyoung Chung<br> <br>- 5-2 Candidate for Audit Committee Member who is an Independent director :<br> <br>Su-Young Yun<br><br><br>- 5-3 Candidate for Audit Committee Member who is an Independent director :<br><br><br>Yo-Hwan Shin	Approved as submitted
	6. Approval of maximum limit on directors’ compensation	Approved as submitted
Annual General Meeting of Shareholders for FY2023<br><br><br>(March 22, 2024)	1. Approval of separate financial statements (including statements of appropriations of retained earnings) and consolidated financial statements for the fiscal<br>year 2023 (Jan. 1, 2023 – Dec. 31, 2023)	Approved as submitted
	2. Election of directors (5 independent directors)<br><br><br>- 2-1 Candidate for independent director : Chan-Hyoung Chung<br><br><br>- 2-2 Candidate for independent director : In-Sub Yoon<br><br><br>- 2-3 Candidate for independent director : Yo-Hwan Shin<br><br><br>- 2-4 Candidate for independent director : Eun-Ju Lee<br><br><br>- 2-5 Candidate for independent director : Sunyoung Park	Approved as submitted
	3. Election of Audit Committee members who are independent directors<br>(2 directors)<br> <br>- 3-1 Candidate for Audit Committee member who is an independent director :<br>Chan-Hyoung Chung<br> <br>- 3-2 Candidate for Audit Committee member who is an independent director :<br>Yo-Hwan Shin	Approved as submitted
	4. Approval of the maximum limit on directors’ compensation	Approved as submitted

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VI.	Shareholder Information
1.	Share Distribution
---	---
a.	Share Information of the Largest Shareholder and Specially Related Parties
---	---
As of December 31, 2024	(units: shares, %)
---	---
					Shares Held
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
					Beginning balance				Ending balance
Name	Relation		Type		Number		Share		Number		Share		Notes
Employee Stock Ownership Association of Woori Financial Group		The largest shareholder		Common		43,990,091		5.85		44,474,301		5.99		—
Employee Stock Ownership Association of Woori Bank		The related party of the<br>largest shareholder		Common		25,040,007		3.33		19,106,955		2.57		—
Total				Common		69,030,098		9.18		63,581,256		8.56		—
				Others		—		—		—		—		—
b.	Changes in the largest shareholder
---	---
As of December 31, 2024	(units: shares, %)
---	---
Change of Date	Largest Shareholder	NumberHeld		Share		Notes
---	---	---	---	---	---	---
December 9, 2021	Employee Stock Ownership Association of Woori Financial Group and others 1		71,346,178		9.80	Bought 1.00% of the KDIC’s remaining shares of Woori Financial Group (8.80% share already held) Note 1)
Note 1)	Refer to the prior disclosure on the Form 6-K on December 10,<br>2021, Changes in the Largest Shareholder
---	---

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c.	Share Ownership of More Than 5%
As of December 31, 2024	(units: shares, %)
---	---
	Name	Shares				Notes
---	---	---	---	---	---	---
		No. of shares		Percentage<br>of<br>shareholding
Share ownership of more than 5%	National Pension Service		50,739,207		6.83	—
	Blackrock Fund Advisors		45,100,755		6.07	Note 1)
Employee Stock Ownership Association			63,581,256		8.56	Note 2)
Note 1)	Based on the report on the status of large-scale stock holdings dated June 10, 2024
---	---
Note 2)	Total shares of the employee stock ownership association of Woori Financial Group and Woori Bank<br>
---	---
2.	Stock Price and Stock Market Performance
---	---
a.	Domestic Stock Market
---	---

(units: Won, shares)

Period		July<br>2024		August<br>2024		September<br>2024		October<br>2024		November<br>2024		December<br>2024
Common Shares	High		16,330		16,600		16,290		17,080		16,850		17,200
	Low		14,400		13,980		14,920		15,430		15,750		15,240
	Average		14,957		15,536		15,740		16,207		16,305		15,833
Monthly<br><br><br>Trade Volume	High		15,407,636		8,090,921		4,428,707		6,610,894		3,639,479		6,347,927
	Low		964,591		1,616,728		1,441,429		1,125,786		1,022,550		827,121
	Monthly Total		74,798,249		62,519,122		41,290,813		49,818,821		41,402,544		53,710,108
Note 1)	Source: KRX KOSPI Market
---	---
Note 2)	Share prices are based on closing prices.
---	---

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b.	Foreign Stock Market (NYSE)

(units: US Dollars, Won, ADSs)

Period		July<br>2024		August<br>2024		September<br>2024		October<br>2024		November<br>2024		December<br>2024
ADS	High		36.08		37.84		37.44		37.04		35.99		35.86
	Low		31.41		31.56		34.10		33.66		33.93		31.21
	Average		32.94		34.87		35.77		35.67		34.80		32.84
Won Conversion	High		50,000		50,660		49,690		50,223		50,278		50,251
	Low		43,324		43,414		45,660		46,447		47,461		45,957
	Average		45,567		47,224		47,747		48,552		48,492		47,105
Monthly Trade Volume	High		153,117		120,019		162,601		175,159		86,416		162,590
	Low		25,615		27,026		38,249		29,861		28,686		20,273
	Monthly Total		1,903,602		1,428,665		1,458,025		1,584,048		1,052,599		1,498,225
Note 1)	Source: standard trading rate (daily and monthly average) (Seoul Money Brokerage, www.smbs.biz)<br>
---	---
Note 2)	One ADS represents three common shares.
---	---
Note 3)	Share prices are based on closing prices.
---	---

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VII.	Directors and Employee Information
1.	Directors and Executives
---	---

As of March 17, 2025

Position		Name	CommonSharesOwned		Term<br><br><br>Commencement Date	Expiration of Term
Chief Executive Officer	Registered	Jong-Yong Yim		10,000	March 24, 2023 ~	Note 1)
Independent Director	Registered	In-Sub Yoon		—	January 27, 2022 ~	Note 2)
Independent Director	Registered	Chan-Hyoung Chung		10,532	January 11, 2019 ~	Note 2)
Independent Director	Registered	Su-Young Yun		2,411	March 24, 2023~	Note 2)
Independent Director	Registered	Yo-Hwan Shin		—	January 27, 2022 ~	Note 2)
Independent Director	Registered	Sung-Bae Ji		—	March 24, 2023~	Note 2)
Independent Director	Registered	Eun-Ju Lee		—	March 28, 2024 ~	Note 1)
Independent Director	Registered	Sunyoung Park		—	March 26, 2024 ~	Note 1)
Deputy President	Non-Registered	Sung-Wook Lee		16,000	February 25, 2022~	~ December 31, 2025
Deputy President	Non-Registered	Il-Jin Ouk		4,000	December 8, 2023 ~	~ November 30, 2025
Deputy President	Non-Registered	Jang-Keun Park		2,000	December 8, 2023 ~	~ March 6, 2027
Deputy President	Non-Registered	Jung-Soo Lee		6,890	December 8, 2023 ~	~ December 31, 2025
Deputy President	Non-Registered	Chan-Ho Jeong		7,492	December 8, 2023 ~	~ November 30, 2025
Deputy President	Non-Registered	Kyu-Hwang Jeong		11,741	December 8, 2023 ~	~ July 4, 2026
Deputy President	Non-Registered	Hyeon Gi Jeon		948	December 16, 2024 ~	~ December 31, 2026
Managing Director	Non-Registered	Jung Sup Lee		—	December 16, 2024 ~	~ December 31, 2026
Managing Director	Non-Registered	Je Seong Park		5,250	December 16, 2024 ~	~ December 31, 2026
Note 1)	The terms of Standing Director Jong-Yong Yim and Independent Directors<br>Eun-Ju Lee and Sunyoung Park : Until the end of the annual general meeting of shareholders for FY2025.
---	---
Note 2)	The terms of Independent Directors In-Sub Yoon, Chan-Hyoung Chung, Su-Young Yun, Yo-Hwan Shin, Sung-Bae Ji: Until the end of the annual general meeting of shareholders for FY2024.
---	---
Note 3)	Term commencement date: date of inauguration for registered officers or directors / date of appointment for non-registered officers or directors
---	---
Note 4)	Common shares owned are as of the date of submission of this report, and those owned by executives exclude<br>shares owned through the Employee Stock Ownership Association.
---	---

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2.	Employee Status
As of December 31, 2024	(units: persons, millions of Won)
---	---
	Number of Employees										Average<br>Tenure			TotalCompensation		AverageCompensation<br>Per Person		Note
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Regular				Contract				Total
	Total		(Short timeworker)		Total		(Short timeworker)
Total		70		—		37		—		107		3 years 3 months<br> <br>(14 years 10 months	)		18,851		174		—
Note 1)	Average tenure: term in ( ) includes tenure at affiliated companies
---	---
Note 2)	Contract employees include non-registered executives<br>
---	---
3.	Directors’ Compensation
---	---
As of December 31, 2024	(units: persons, millions of Won)
---	---
Items	Number ofPersons		TotalCompensation		AverageCompensation<br>Per Director		Note
---	---	---	---	---	---	---	---	---
Registered Directors<br><br><br>(excludes independent directors and audit committee members)		1		1,144		1,144		—
Independent Directors<br><br><br>(excludes audit committee members)		3		241		88		—
Audit Committee Members		4		278		70		—
Auditor		—		—		—		—
Note 1)	Number of Persons is as of December 31, 2024
---	---
Note 2)	Total Compensation is the amount paid from January to December 2024
---	---
Note 3)	Average compensation per director was calculated by dividing the total compensation by the average number of<br>persons
---	---
Note 4)	Registered directors and audit committee members include uncompensated directors
---	---
Note 5)	Only the compensation amount paid by Woori Financial Group is included for the executives concurrently employed<br>by Woori Bank
---	---

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VIII.	Internal Controls
1.	Management’s Assessment of the Effectiveness of the Internal Accounting Management System
---	---
Term	Date of Report	Assessment	MaterialDeficiencies		Corrective ActionPlans
---	---	---	---	---	---	---
2024	February 28, 2025	In terms of overall materiality, the internal accounting management system is under effective design and operation.		—		—
2023	February 29, 2024	In terms of overall materiality, the internal accounting management system is under effective design and operation.		—		—
2022	March 3, 2023	In terms of overall materiality, the internal accounting management system is under effective design and operation.		—		—
2.	Audit Committee’s Assessment of the Effectiveness of the Internal Accounting Management System
---	---
Term	Date of Report	Assessment	MaterialDeficiencies		Corrective ActionPlans
---	---	---	---	---	---	---
2024	February 28, 2025	In terms of overall materiality, the internal accounting management system is under effective design and operation.		—		—
2023	February 29, 2024	In terms of overall materiality, the internal accounting management system is under effective design and operation.		—		—
2022	March 3, 2023	In terms of overall materiality, the internal accounting management system is under effective design and operation.		—		—
3.	External Auditor’s Audit Opinion (Review Report) on the Effectiveness of the Internal AccountingManagement System
---	---
Term	Auditor	Audit or Review	Opinion Type	Issues		Company’sResponse Actions
---	---	---	---	---	---	---	---
2024	KPMG Samjong Accounting Corp.	Audit	Unqualified		—		—
2023	KPMG Samjong Accounting Corp.	Audit	Unqualified		—		—
2022	Samil PricewaterhouseCoopers	Audit	Unqualified		—		—

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Woori Financial Group Inc.
	(Registrant)
Date: March 18, 2025	By:	/s/ Sung-Wook Lee
	(Signature)
	Name: Sung-Wook Lee
	Title: Deputy President

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