UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2025
Commission File Number: 001-31811
Woori Financial Group Inc.
(Translation of registrant’s name into English)
51, Sogong-ro, Jung-gu, Seoul, 04632, Korea
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Results of the Annual General Meeting of Shareholders
of Woori Financial Group Inc. for Fiscal Year 2024
The annual general meeting of shareholders (the “AGM”) of Woori Financial Group Inc. (“Woori Financial Group”) was held on March 26, 2025 and all seven agenda items listed below were approved and ratified as originally proposed.
Key Details Relating to the Annual General Meeting of Shareholders
• | Agenda: |
1. | Approval of separate financial statements (including statements of appropriations of retained earnings) and consolidated financial statements for fiscal year 2024 (Jan. 1, 2024 – Dec. 31, 2024) |
2. | Approval of amendments to the Articles of Incorporation |
3. | Approval of reductions to the capital reserve |
4. | Election of directors (4 independent directors) |
• | 4-1 Candidate for independent director : Choon Soo KIM |
• | 4-2 Candidate for independent director : Young Hoon KIM |
• | 4-3 Candidate for independent director : Kang Haeng LEE |
• | 4-4 Candidate for independent director : In Sub YOON |
5. | Election of independent director who will serve as an audit committee member |
• | Candidate for independent director who will serve as an audit committee member : Yeongseop RHEE |
6. | Election of audit committee members who are independent directors (3 independent directors) |
• | 6-1 Candidate for audit committee member who is an independent director : Choon Soo KIM |
• | 6-2 Candidate for audit committee member who is an independent director : Young Hoon KIM |
• | 6-3 Candidate for audit committee member who is an independent director : Kang Haeng LEE |
7. | Approval of the maximum limit on directors’ compensation |
• | Agenda details |
1. | Approval of separate financial statements (including statements of appropriations of retained earnings) and consolidated financial statements for fiscal year 2024 (Jan. 1, 2024 – Dec. 31, 2024) |
(units: in millions of KRW, unless indicated otherwise)
< Consolidated – Independent Auditor’s Opinion : Unqualified>
Total Assets |
525,753,320 | Revenue | 46,680,933 | |||||||
Total Liabilities |
489,858,051 | Operating Income | 4,255,190 | |||||||
Capital Stock |
3,802,676 | Net Income | 3,171,469 | |||||||
Total Equity |
35,895,269 | Earnings Per Share (in KRW) |
3,950 |
< Separate – Independent Auditor’s Opinion : Unqualified>
Total Assets |
26,353,037 | Revenue | 1,262,533 | |||||||
Total Liabilities |
2,200,306 | Operating Income | 1,123,301 | |||||||
Capital Stock |
3,802,676 | Net Income | 1,123,332 | |||||||
Total Equity |
24,152,731 | Earnings Per Share (in KRW) |
1,296 |
• | Cash dividends for fiscal year 2024 |
(units: in KRW) | ||||
Total dividends per common share |
1,200 | |||
Year-end dividends per common share |
660 | |||
Quarterly dividend per common share |
540 | |||
Dividend yield* |
6.9 | % | ||
Dividend per class share |
— | |||
Total dividend amount |
891,045,067,200 |
* | Represents the percentage (rounded to the nearest tenth) of the total dividends per common share to the arithmetic mean of the closing prices in the trading market during the one week period ending on the day that is two trading days before the closing date of the shareholder register. |
3. | Approval of reductions to the capital reserve |
• | In accordance with Article 461-2 of the Korean Commercial Code (Reduction of Reserve), the Company intends to transfer its capital reserve to retained earnings. This measure aims to expand the funds available for dividends, as part of the Company’s shareholder return policy. |
• | The reduction in capital reserve will result in an increase of KRW 3.0 trillion in distributable profit, which, in accordance with relevant laws*, may be used as a source for non-taxable dividends in the future. |
• | For individual shareholders, non-taxable dividends are not subject to withholding tax (15.4%), allowing them to receive 100% of the dividend amount. Additionally, such dividends are not subject to comprehensive taxation on financial income (up to 49.5%). |
* | Article 18, Item 8 of the Corporate Tax Act; Article 26-3, Paragraph 6 of the Enforcement Decree of the Income Tax Act; and Article 17 of the Corporate Tax Act |
4. | Election of directors (4 independent directors) |
Name |
Date of Birth |
Term |
Appointment |
Career Background |
Other Positions Held as Directors, etc. | |||||||
Choon Soo KIM |
July 1956 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2019-2025
2023-2025 2012-2018 2009-2012 |
• CEO, Natural Farm & Bio and Advisor, Eugene Logistics • CEO, Gowoon Leisure • CEO, Eugene Logistics • President of Ethics Management Office, Eugene Corporation |
— | ||||||
Young Hoon KIM |
January 1958 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2016-Current 2016-2024 2021-2024 2008-2015 2004-2007 |
• Executive director, Kidari Studio • CEO, Kidari Studio • CEO, Lezhin Entertainment • CEO, Daou Technology • CEO, Unitel |
Executive director, Kidari Studio | ||||||
Kang Haeng LEE |
September 1959 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2025-Current 2022-2024 2019-2021 2016-2018 |
• Senior Advisor, Korea Investment Holdings • Vice Chairman, Korea Investment Holdings • President, Korea Investment Holdings • Executive Vice President, Korea Investment Holdings |
— | ||||||
In Sub YOON |
January 1956 |
From the end of the AGM for FY2024 to the end of the AGM for FY2025 | Re-appointment | 2022-Current 2018-2021
2010-2017 2008-2010 2007-2008 |
• Independent director, Woori Financial Group • Chairman of the Board of Directors and Chairman, Fubon Hyundai Life Insurance • CEO, Korea Ratings • CEO, Hana HSBC Life Insurance • CEO, Hana Life |
Independent director, Woori America Bank |
5. | Election of independent director who will serve as an audit committee member (1 director) |
Name |
Date of Birth |
Term |
Appointment |
Career Background | ||||||
Yeongseop RHEE |
May 1960 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2010-Current
2019-2022 2020-2021 2016-2018 |
• Professor, Seoul National University Graduate School of International Studies • Independent director, Samsung Securities • President, Korea Money and Finance Association • Director, Institute of Financial Economics of Seoul National University |
6. | Election of audit committee members who are independent directors (3 directors) |
Name |
Date of Birth |
Term |
Appointment |
Career Background | ||||||
Choon Soo KIM |
July 1956 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2019-2025
2023-2025 2012-2018 2009-2012 |
• CEO, Natural Farm & Bio and Advisor, Eugene Logistics • CEO, Gowoon Leisure • CEO, Eugene Logistics • President of Ethics Management Office, Eugene Corporation | |||||
Young Hoon KIM |
January 1958 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2016-Current 2016-2024 2021-2024 2008-2015 2004-2007 |
• Executive director, Kidari Studio • CEO, Kidari Studio • CEO, Lezhin Entertainment • CEO, Daou Technology • CEO, Unitel | |||||
Kang Haeng LEE |
September 1959 |
From the end of the AGM for FY2024 to the end of the AGM for FY2026 | New Appointment |
2025-Current 2022-2024 2019-2021 2016-2018 |
• Senior Advisor, Korea Investment Holdings • Vice Chairman, Korea Investment Holdings • President, Korea Investment Holdings • Executive Vice President, Korea Investment Holdings |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Woori Financial Group Inc. | ||||||
(Registrant) | ||||||
Date: March 26, 2025 | By: /s/ Sung-Wook Lee | |||||
(Signature) | ||||||
Name: | Sung-Wook Lee | |||||
Title: | Deputy President |