Woori Financial Group Inc. is a financial holding company that provides comprehensive financial services through its subsidiaries, including corporate banking, consumer banking, credit card operations, investment banking, capital markets activities, international banking, asset management, life insurance, and related businesses. The company serves customers across Korea and internationally, offering a broad range of products such as loans, deposits, credit cards, investment trusts, insurance, and wealth management solutions. Its operations are centered on delivering integrated financial solutions to individuals, small and medium-sized enterprises, large corporations, and institutional clients.

Woori Financial Group generates revenue primarily through interest income from loan portfolios, fee-based income from credit card operations, asset management services, investment banking, bancassurance, and other financial services. The company earns interest from corporate and consumer loans, including mortgages and business financing, and collects fees from credit card transactions, wealth management, insurance distribution, and capital market activities. Revenue is derived from both domestic and international operations, supported by a diversified business model that emphasizes cross-selling and synergy among subsidiaries.

The company operates through the following segments: Corporate Banking, Consumer Banking, Credit Cards, Capital Markets Activities, International Banking, Asset Management, Life Insurance, and Other Businesses.

• Corporate Banking: This segment provides commercial banking services to large corporate and small- and medium-sized enterprise customers in Korea, including working capital loans, facilities loans, deposit-taking, and fee-based services such as foreign exchange, trade finance, and advisory solutions. It serves clients through Woori Bank’s network of branches, dedicated corporate banking centers, and relationship managers. The segment supports business growth through customized financing and cash management services.

• Consumer Banking: This segment offers retail banking products and services to individuals, including general purpose household loans, mortgage loans, home equity loans, and various deposit products such as demand, time, savings, installment, and certificate of deposit accounts. It serves customers through a nationwide branch network, ATMs, mobile and internet banking platforms, and specialized services for high net worth individuals via private banking operations. The segment focuses on accessibility, digital innovation, and tailored financial solutions across customer segments.

• Credit Cards: This segment provides credit card products and services under the Woori, BC Card, and Visa brands, offering credit purchase, cash advance, and installment payment options to consumer and corporate customers. It includes co-branded cards with MasterCard, JCB, Union Pay, and Diners Club, and supports customer spending through rewards programs, travel benefits, and affiliate partnerships. The segment generates revenue from interest, fees, and merchant processing, leveraging Woori Card’s extensive merchant network and digital payment capabilities.

• Capital Markets Activities: This segment encompasses securities investment and trading, derivatives trading, asset securitization, and investment banking services for corporate and institutional clients. It includes bond and equity trading, interest rate and foreign exchange derivatives, structured finance, and advisory services for mergers, acquisitions, and capital raising. The segment operates through Woori Bank and Woori Investment Securities, supporting clients with market access, risk management, and capital optimization.

• International Banking: This segment provides foreign exchange services, trade financing, overseas lending, and cross-border banking solutions through subsidiaries and branches in the United States, China, Indonesia, Vietnam, Cambodia, Germany, and other countries. It supports Korean corporations operating abroad and serves local customers in select international markets via entities such as Woori America Bank, Woori Bank China Limited, PT Bank Woori Saudara Indonesia, Woori Bank Vietnam, and Woori Bank Europe Gmbh. The segment facilitates global trade, investment, and financial inclusion for Korean businesses and expatriates.

• Asset Management: This segment manages investment trusts, money trusts, and property trusts on behalf of retail and institutional investors, offering products such as securities funds, real estate funds, special asset funds, mixed asset funds, and money market funds. It includes wealth management services through Woori Asset Management Corp. and related subsidiaries, providing investment advisory, portfolio management, and trustee services. The segment generates fees based on assets under management and supports long-term wealth creation and retirement planning.

• Life Insurance: This segment offers individual and group life insurance products through subsidiaries Tongyang Life Insurance and ABL Life Insurance, including protection, savings, retirement, and unit-linked policies. It distributes products via bancassurance partnerships with banks, financial consultants, telemarketing, and agency networks. The segment focuses on customer protection, long-term savings, and risk management, leveraging digital platforms for service delivery and claims processing.

• Other Businesses: This segment includes specialized services such as management of the National Housing and Urban Fund, private equity through Woori Private Equity Asset Management, venture capital investment via Woori Venture Partners, and financial technology initiatives. It supports affordable housing, strategic investments in startups, and innovation in digital finance through programs like the Digital Innovation Lab and blockchain-based services. These activities diversify revenue and strengthen the group’s non-banking capabilities.

Woori Financial Group is one of the largest financial holding companies in Korea by total assets and a leading provider of integrated financial services. It competes with major domestic financial groups such as Shinhan Financial Group, KB Financial Group, Hana Financial Group, and NH Investment & Securities, as well as global banks operating in Korea. The company maintains a strong market position through its extensive branch network, diversified product suite, deep corporate relationships, and growing presence in wealth management and insurance. Its competitive advantages include a robust capital base, advanced risk management systems, and a focus on digital innovation and cross-selling across subsidiaries.

The company serves a broad customer base that includes individual consumers, small and medium-sized enterprises, large corporations, and institutional investors across Korea and internationally. Retail customers are segmented by income level into high net worth, mass affluent, middle class, and mass market groups, with tailored products and services for each. Corporate clients range from small businesses to large conglomerates, including government-linked entities, and receive specialized financing and advisory support. Institutional investors access asset management, custody, and investment banking solutions through the group’s subsidiaries.