Shown above is the head office of Woori Financial Group in Seoul. The outfit racked up a record profit last year. Photo courtesy of Woori Financial Group

Yearly net profit topped 3 trillion won last year

South Korea’s Woori Financial Group announced on Feb. 8 that it had logged 3.17 trillion won ($2.4 billion) in consolidated net profit last year, up 22.47 percent from a year before.

It marked the Seoul-based financial conglomerate’s record annual profit every.

The group’s flagship affiliate Woori Bank carved out most of the profits with 2.92 trillion won ($2.2 billion), followed by Woori Card with 204.4 billion won ($155 million) and Woori Financial Capital with 183.3 billion won ($139 million).

Woori Financial Group said that it would continue to put forth efforts to improve profitability so as to respond to uncertainties in the financial market.

As action plans, the outfit promised to come up with better risk management and carry out a variety of social contribution activities while protecting customers.

“Despite difficult situations both at home and abroad, we managed to chalk up solid performances through the increase of profits in our core business,” a Woori Financial official said.

“Proactive cost management and expansion in the non-bank business also helped the results.”

Hillary Lee studied literature in Seoul. Lee has big interests on various topics including IT, BT, business and finance. Lee can be reached at homin30@hanmail.net or 82-2-6956-6698.