Woori Bank CEO Nominee Vows to Pursue M&A Opportunities
Woori Bank, South Korea’s third-largest lender, is gearing up for some big changes under the leadership of its CEO nominee. Sohn Tae-seung, who was recently named as the new head of the bank, has ambitious plans to make Woori Bank a major player in the financial industry by 2020.
At a press conference held at Woori Bank headquarters in Seoul, Sohn outlined the bank’s strategy, which includes aggressively pursuing merger and acquisition opportunities. The goal is to not only expand the bank’s reach but also to diversify its offerings by acquiring different types of financial entities.
Sohn, who has been serving as acting chief since his predecessor stepped down, is also focused on addressing internal issues within the bank. He plans to implement engagement leadership to foster a more cohesive work environment and root out any internal conflicts that may exist.
Woori Bank, which was formed through a merger in the late 1990s, has faced scrutiny recently over alleged unfair recruiting practices. Sohn acknowledged the ongoing investigation into these allegations and emphasized that appropriate disciplinary actions will be taken once the investigation is complete.
As Woori Bank sets its sights on growth and transformation, all eyes will be on Sohn Tae-seung as he steers the bank into a new era of success.
