Woori Financial Group Reports 1H 2024 Business Update

TL;DR

Woori Financial Group dropped its 1H 2024 business report. Check the exhibits for details.

AI Summary

Woori Financial Group Inc. filed a Form 6-K on August 14, 2024, to report on its business for the first half of 2024. The filing includes a summary of the 2024 1H Business Report and related review reports (Consolidated and Separate) as exhibits.

Why It Matters

This filing provides investors with a mid-year update on the financial performance and business activities of Woori Financial Group, a significant financial institution.

Risk Assessment

Risk Level: low — This is a routine business update filing and does not contain significant new financial information or events that would inherently increase risk.

Key Players & Entities

• Woori Financial Group Inc. (company) — Filer of the report
• August 14, 2024 (date) — Filing date
• 2024 1H (period) — Reporting period for the business report

FAQ

Filing Documents

• d870488d6k.htm (6-K) — 551KB
• d870488dex991.htm (EX-99.1) — 4434KB
• d870488dex992.htm (EX-99.2) — 1106KB
• g870488g10k10.jpg (GRAPHIC) — 240KB
• 0001193125-24-200356.txt ( ) — 6423KB

From the Filing

Form 6-K Table of Contents 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 August 2024 Commission File Number: 001-31811 Woori Financial Group Inc. (Translation of registrants 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 1H Business Report 2. Exhibit 99.1 Woori Financial Group Review Report for 2024 1H (Consolidated) 3. Exhibit 99.2 Woori Financial Group Review Report for 2024 1H (Separate) 2 Table of Contents Summary of 2024 First Half Business Report Table of Contents I. INTRODUCTION OF THE COMPANY 5 1. Overview of the Company 5 2. Capital Structure (Changes in Capital) 12 3. Total Number of Authorized Shares 14 II. BUSINESS OVERVIEW 14 1. Results of Operations 14 2. Funding Sources and Uses of Funds 15 3. Other Information Necessary for Making Investment Decisions 16 III. FINANCIAL INFORMATION 20 1. Condensed Financial Statements (Consolidated) 20 2. Condensed Financial Statements (Separate) 22 3. Dividend Information 24 IV. INDEPENDENT AUDITORS OPINION 26 1. Independent Auditors Opinion 26 2. Compensation to the Independent Auditor 26 V. CORPORATE GOVERNANCE 28 1. About the Board of Directors 28 2. Shareholders Meeting 30 VI. SHAREHOLDER INFORMATION 33 1. Share Distribution 33 2. Stock Price and Stock Market Performance 34 VII. DIRECTORS AND EMPLOYEE INFORMATION 36 1. Directors and Executives 36 2. Employee Status 37 3. Directors Compensation 37 4. Stock-based Compensation 38 3 Table of Contents 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, the Group 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. 4 Table of Contents I. Introduction of the Company 1. Overview of the Company a. History January 11, 2019 Establishment of the Company pursuant to a comprehensive stock transfer, by which Woori Bank, Woori FIS, Woori Finance Research Institute, Woori Credit Information, Woori Fund Services and Woori Private Equity Asset Management became wholly-owned subsidiaries of the Company. February 13, 2019 Listed on the Korea Exchange (KRX). April 5, 2019 Entered into share purchase agreements to acquire Tongyang Asset Management Corp. and ABL Global Asset Management Co., Ltd. June 21, 2019 Entered into a purchase agreement with Woori Bank to acquire the common shares of Woori Investment Bank Co., Ltd. (Woori Investment Bank) and integrate Woori Investment Bank as a first-tier subsidiary of the Company (Buyer: Woori Financial Group, Seller: Woori Bank) July 3, 2019 Entered into a stock exchange agreement between the Company and Woori Card Co., Ltd (Woori Card) to integrate Woori Card as a first-tier subsidiary of the Company July 25, 2019 Entered into a share purchase agreement to acquire Kukje Asset Trust, Ltd. August 1, 2019 Integrated Woori Asset Management Corp. (formerly known as Tongyang Asset Management Co., Ltd.) as a first-tier subsidiary of the Company. September 10, 2019 Integrated Woori Card and Woori Investment Bank as first-tier subsidiaries of the Company. September 26, 2019 Disposed 4% of common shares of the Company held by Woori Bank to a Taiwanese company, Fubon Life Insurance Co., Ltd. December 6, 2019 Integrated Woori Global Asset Management Corp. as a first-tier subsidiary of the Company December 30, 2019 Integrated Woori Asset Trust Ltd. as a first-tier subsidiary of the Company March 25, 2020 Held the first annual general meeting of shareholders of Woori Financial Group; reappointed the Chief Executive Officer 5 Table of Contents October 26, 2020 Entered into a share purchase agreement to acquire Aju Capital Co., Ltd. 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 Ca

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View this 6-K filing on SEC EDGAR