Business Context and Reporting Period
This Form 6-K filing by Woori Financial Group Inc. reports the results of the Annual General Meeting of Shareholders held on March 25, 2022. The meeting ratified the financial statements for the fiscal year ended December 31, 2021, and approved corporate governance changes including director appointments and dividend distributions.
Key Financial Metrics (Fiscal Year 2021)
Consolidated Results (in millions of KRW):
- Total Assets: 447,183,871
- Total Liabilities: 418,333,676
- Total Equity: 28,850,195
- Revenue (Interest, fees, dividends, gains): 27,228,335
- Operating Income: 3,659,749
- Net Income: 2,807,371
- Earnings Per Share: 3,481 KRW
Dividend Distribution:
- Total Dividend per Common Share: 900 KRW (750 KRW year-end + 150 KRW interim)
- Total Dividend Amount: 654,383,820,900 KRW
- Dividend Yield: 6.8% of market price
Material Changes and Governance Updates
The filing details the appointment and reappointment of the Board of Directors:
- New Outside Director: Soo-Young Song (Term: FY2021 to FY2023).
- Reappointed Outside Directors: Sung-Tae Ro, Sang-Yong Park, Dong-Woo Chang, and Chan-Hyoung Chung.
- New Non-Standing Director: Won-Duk Lee (President and CEO of Woori Bank).
- Audit Committee: Chan-Hyoung Chung, Sung-Tae Ro, and Dong-Woo Chang were appointed as outside directors serving on the Audit Committee.
- Compensation: The maximum limit on directors' compensation was approved.
The filing does not provide comparative financial data for the prior fiscal year (2020) to calculate material changes in revenue or profit.
Guidance, Outlook, and Risks
The filing text does not contain forward-looking guidance, management commentary on future outlook, specific risk factors, or contingencies beyond the standard ratification of past financial statements and governance appointments.
Investor Verification Checklist
- Verify the full text of the 2021 Annual Report to analyze year-over-year financial performance trends.
- Confirm the specific terms of the Articles of Incorporation amendments approved at the meeting.
- Review the detailed compensation structure for the newly appointed and reappointed directors.
- Check subsequent filings for the actual payment date of the 750 KRW year-end dividend.