Woori Financial Group to disclose corporate value enhancement plan in Q3

[Photo by MK DB]

South Korea’s Woori Financial Group announced on Monday that it will disclose plans to improve its corporate value in the third quarter.

The financial group disclosed via the Financial Supervisory Service that it reported and discussed its value-up plan at an extraordinary board meeting held last week.

The plan is expected to include market-friendly capital management measures and shareholder return policies.

Based on this, Woori Financial plans to actively promote investor relations activities.

The group emphasized that it is gaining attention from foreign investors. BlackRock Inc., one of the world‘s largest asset management firms, announced on June 10 that it increased its stake in Woori Financial by 1 percentage point from 5.07 percent to 6.07 percent.

The overall foreign ownership in Woori Financial is at an all-time high of about 42.8 percent. The ownership increased by 4.6 percentage points this year alone.

“We are currently implementing quarterly dividends, which has increased the predictability of dividends, and the dividend yield is also at its highest level,” said a Woori Financial official.