Woori Financial Group to appoint new chairman this week

Woori Financial Group's headquarters in central Seoul [JOONGANG PHOTO]

Woori Financial Group is scheduled to appoint its new chairman this week after the financial group shortlisted four candidates last week.

The candidates are Woori Bank CEO Lee Won-deok, former Financial Services Chairman Yim Jong-yong, Woori America chief Shin Hyun-seok and Woori FIS CEO Lee Dong-yeon.

Local media outlets predict Lee Won-deok and Yim Jong-yong are the favorites, pitting an internal corporate member and an external figure with public service experience against each other.

Lee’s strength lies in his knowledge of Woori companies as he is serving as the head of Woori Bank, the flagship unit of Woori Financial Group with the highest sales.

Yim is expected to draw on his experience and networking at financial regulators as financial institutions are highly sensitive to regulatory changes from authorities.

The group took into account skills, ethical standards, previous track records and digital capabilities in selecting the list, according to a statement released by Woori Financial Group.

The chairman will be finalized as early as Friday after two rounds of interviews on Feb. 1 and 3.

Current Chairman Son Tae-seung said earlier this month that he will not vie for another term.

Son received a reprimand warning from the Financial Services Commission in November for the improper sale of Lime funds.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]