Woori Financial Group Chairman Yim Jong-yong seems to be fortifying efforts to cement his grip on leadership, as indicated by the exclusion of Woori Bank CEO Cho Byung-kyu from the group s board, market watchers said Thursday.
The heads of Korea’s leading financial groups - KB, Shinhan, Woori, Hana and NH NongHyup - each announced their New Year message emphasizing risk management as the top priority to navigate uncertainties this year, the lenders said, Tuesday.
Heads of financial authorities have once again called on domestic financial groups to take on greater social responsibility, pressuring the companies to lower the burden on small and medium-sized business owners stemming from soaring interest rates.
While major insurance firms are queued up for sale, financial holding companies are exercising caution in proceeding with acquisition deals. This contrasts with earlier market expectations that they would actively pursue acquisitions to expand their non-banking business portfolios.
Deutsche Bank said on Sunday that it will inject 150 million euro (211.5 billion won) into its Seoul branch as part of its investment plan for the Asian market, with Korea as a strategic foothold. The German bank's decision to allocate additional capital to its Korean business underscores its confidence in the stability and growth potential of the market. The capital injection plan was outlined at a meeting held.