Woori Financial Group said Monday it has activated its emergency operation system and ramped up communications with investors as South Korea navigates deepening political turmoil.
Chairman Yim Jong-yong convened an emergency meeting earlier in the day to address rising financial instability following President Yoon Suk Yeol's suspension. Yoon's suspension came after the National Assembly passed an impeachment motion related to his activation of martial law on Dec. 3, intensifying market uncertainties.
Yim said the group has heightened vigilance to respond to shifting domestic and external conditions. “With financial authorities closely monitoring and working to minimize market instability, Woori will actively implement response measures and carefully manage key indicators,” he said.
Liquidity, soundness and capital adequacy remain key priorities for the group, with liquidity staying robust and exceeding regulatory standards. “We are monitoring closely to ensure swift responses to changing market dynamics,” Yim added.
The chairman also highlighted Woori's efforts to strengthen investor confidence, citing letters sent to 160 investors last week.
In the letter, the company assured stakeholders of Korea’s solid economic fundamentals despite market challenges and outlined the group’s proactive risk management strategies and commitment to executing its corporate value enhancement plan unveiled in July.
“Woori Financial is dedicated to active investor engagement through conference calls, meetings and letters,” Yim said. “We remain focused on maintaining financial stability while staying firmly on course with our value-up program and market commitments."
