Woori Financial Group Inc 6-K, filed Feb 28, 2025
Woori Financial Group Inc. (WF)
About this 6-K
Woori Financial Group Inc filed this 6-K on February 28, 2025.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 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 ☐
Announcement of the Annual General Meeting of Shareholders for Fiscal Year 2024
On February 28, 2025, the Board of Directors of Woori Financial Group Inc. (“Woori Financial Group”) passed the following resolution to hold the annual general meeting of shareholders (the “AGM”) on March 26, 2025.
Key Details Relating to the Annual General Meeting of Shareholders
| • | Meeting Date and Time: March 26, 2025; 10:00 A.M. (Korea Standard Time) |
| • | Venue: Woori Bank Head Office Building, Synergy Hall, 5th floor, 51, Sogong-ro, Jung-gu, Seoul, Korea (subject to change in the case of extraordinary circumstances) |
| • | Agenda: |
1. Approval of separate financial statements (including statements of appropriations of retained earnings) and consolidated financial statements for the fiscal year 2024 (Jan. 1, 2024 – Dec. 31, 2024)
2. Approval of amendments to the Articles of Incorporation
3. Approval of reductions to the capital reserve
4. Election of directors (4 independent directors)
| - | 4-1 Candidate for independent director : Choon Soo KIM |
| - | 4-2 Candidate for independent director : Young Hoon KIM |
| - | 4-3 Candidate for independent director : Kang Haeng LEE |
| - | 4-4 Candidate for independent director : In Sub YOON |
5. Election of independent director who will serve as an audit committee member
| - | Candidate for independent director who will serve as an audit committee member : Yeongseop RHEE |
6. Election of audit committee members who are independent directors
| - | 6-1 Candidate for independent director : Choon Soo KIM |
| - | 6-2 Candidate for independent director : Young Hoon KIM |
| - | 6-3 Candidate for independent director : Kang Haeng LEE |
7. Approval of maximum limit on directors’ compensation
Agenda details
| • | Approval of reductions to the capital reserve |
| • | In accordance with Article 461-2 of the Korea Commercial Code (Reduction of Reserve), the company intends to transfer its capital reserve to retained earnings. This measure aims to expand the funds available for dividends, as part of the company’s shareholder return policy. |
| • | The reduction in capital reserve will result in an increase of KRW 3.0 trillion in distributable profit, which, in accordance with relevant laws, may be used as a source for non-taxable dividends in the future. |
| • | For individual shareholders, non-taxable dividends are not subject to withholding tax (15.4%), allowing them to receive 100% of the dividend amount. Additionally, such dividends are not subject to comprehensive taxation on financial income (up to 49.5%). |
| • | Appointment of independent directors |
| Name | Date of Birth | Term of Office | Appointment | Career Background (including current position) |
Other Positions Held as Directors, etc. | |||||||
| Choon Soo KIM |
July 1956 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 |
New Appointment |
2019-2025
2023-2025
2012-2018
2009-2012 |
- CEO, Natural Farm & Bio and Advisor, Eugene Logistics
- CEO, Gowoon Leisure
- CEO, Eugene Logistics
- President of Ethics Management Office, Eugene Corporation |
- | ||||||
| Young Hoon KIM |
January 1958 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 |
New Appointment |
2016-Current
2016-2024
2021-2024
2008-2015
2004-2007 |
- Executive director, Kidari Studio
- CEO, Kidari Studio
- CEO, Lezhin Entertainment
- CEO, Daou Technology
- CEO, Unitel |
- Executive director, Kidari Studio | ||||||
| Kang Haeng LEE |
September 1959 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 |
New Appointment |
2025-Current
2022-2024
2019-2021
2016-2018 |
- Senior Advisor, Korea Investment Holdings
- Vice Chairman, Korea Investment Holdings
- President, Korea Investment Holdings
- Executive Vice President, Korea Investment Holdings |
- | ||||||
| In Sub YOON |
January 1956 |
From the end of the AGM for FY2024 to the end of the AGM for FY2025 | Re Appointment |
2022-Current
2018-2021
2010-2017
2008-2010
2007-2008 |
- Independent director, Woori Financial Group
- Chairman of the Board of Directors and Chairman, Fubon Hyundai Life Insurance
- CEO, Korea Ratings
- CEO, Hana HSBC Life Insurance
- CEO, Hana Life |
- Independent director, Woori America Bank |
| • | Appointment of independent director who will serve as an audit committee member |
| Name | Date of Birth | Term of Office | Appointment | Career Background (including current position) |
Other Positions Held as Directors, etc. | |||||||
|
Yeongseop RHEE |
May 1960 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2010-Current
2019-2022
2020-2021
2016-2018 |
- Professor, Seoul National University Graduate School of International Studies
- Independent director, Samsung Securities
- President, Korea Money and Finance Association
- Director, Institute of Financial Economics of Seoul National University |
- | ||||||
| • | Appointment of Audit Committee Members who are Independent directors |
| Name | Date of Birth | Term of Office | Appointment | Career Background (including current position) |
Other Positions Held as Directors, etc. | |||||||
|
Choon Soo KIM |
July 1956 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2019-2025
2023-2025
2012-2018
2009-2012 |
- CEO, Natural Farm & Bio and Advisor, Eugene Logistics
- CEO, Gowoon Leisure
- CEO, Eugene Logistics
- President of Ethics Management Office, Eugene Corporation |
- | ||||||
|
Young Hoon KIM |
January 1958 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2016-Current
2016-2024
2021-2024
2008-2015
2004-2007 |
- Executive director, Kidari Studio
- CEO, Kidari Studio
- CEO, Lezhin Entertainment
- CEO, Daou Technology
- CEO, Unitel |
- Executive director, Kidari Studio | ||||||
|
Kang Haeng LEE |
September 1959 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2025-Current
2022-2024
2019-2021
2016-2018 |
- Senior Advisor, Korea Investment Holdings
- Vice Chairman, Korea Investment Holdings
- President, Korea Investment Holdings
- Executive Vice President, Korea Investment Holdings |
- |
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: February 28, 2025 | By: /s/ Sung-Wook Lee | |||||||
| (Signature) | ||||||||
| Name: Sung-Wook Lee | ||||||||
| Title: Deputy President | ||||||||