Woori Financial unveils AI-led growth strategy

Woori Financial Chair Yim Jong-ryong speaks at a business management strategy meeting held at the group's headquarters in central Seoul, Friday. (Woori Financial Group)

Woori Financial Group held a business management strategy meeting Friday to share its vision for growth centered on group-wide synergy and a shift toward artificial intelligence.

Woori Financial Chair Yim Jong-ryong highlighted that the group will pursue synergy following the recent acquisition of Tongyang Life Insurance and ABL Life Insurance earlier this month, in addition to the launch of Woori Investment & Securities last year.

"Now that Woori Financial has completed its transition into a comprehensive financial group with the inclusion of a securities firm and insurance companies, this is truly a golden time to demonstrate real synergy," Yim said.

He further stressed the need to push for a company-wide shift to integrate artificial intelligence, which the firm labeled as AI Transformation, or AX.

"AI is no longer just a tool. It is a partner we work alongside. Those who understand and know how to leverage AI will become the key talents of the future," Yim said.

Oak Il-Jin, head of the digital and IT unit at Woori Financial, shared the strategic direction of the group’s AX efforts. Twenty-five working-level staff members in charge of AX were introduced, sharing their insights from the field as well.

Lee Jae-jin, professor of computer science and engineering at Seoul National University, gave a lecture, highlighting the importance of securing high-quality training data to support the AI transformation.

Friday's meeting was Woori's first group-wide business management strategy event since the addition of the two new insurers, bringing together some 400 executives and employees from all affiliates, including banking, insurance, card services and securities.