SEOUL – Woori Financial Group has announced its strategic shift towards becoming a leading asset management bank, focusing on high-net-worth individuals. Chairman Yim Jong-yong, during his visit to the TCE Signature Center in Seoul on Wednesday, highlighted the group’s commitment to fostering trust and ensuring transparent communication with its clients.
The South Korean banking giant is poised to broaden its reach within the wealth management sector, with plans to increase its specialized branch network to ten locations by 2026. This expansion includes the opening of a new branch in Busan’s affluent Haeundae Marine City, set to welcome clients in February.
In response to previous challenges, such as those arising from equity-linked securities (ELS) sales tied to the volatile Hong Kong H-Index, Woori Bank has taken significant measures to reinforce client confidence. The establishment of a Non-Deposit Products Committee and the implementation of a five percent cap on exposure to volatile financial products is the bank’s attempt for reliability and the safeguarding of client investments.
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