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 of Woori Bank held on March 27, 2019. The meeting ratified the financial statements for the fiscal year ended December 31, 2018, and approved key governance appointments.
Key Financial Metrics (Fiscal Year 2018)
The filing provides consolidated and separate financial data for Woori Bank in millions of KRW.
| Metric | Consolidated | Separate |
|---|---|---|
| Total Assets | 340,447,183 | 317,392,879 |
| Total Liabilities | 318,494,139 | 296,343,879 |
| Total Shareholder's Equity | 21,953,044 | 21,049,000 |
| Revenue | 19,940,556 | 17,611,404 |
| Operating Income | 2,759,301 | 2,415,691 |
| Net Income | 2,051,649 | 1,810,904 |
| Earnings Per Share (KRW) | 2,796 | 2,466 |
Note: Revenue represents the sum of interest income, fee and commission income, dividend income, gain on financial assets, and other operating income (excluding non-operating income). Independent auditors issued opinions with no exceptions for both consolidated and separate statements.
Material Changes and Dividends
The filing does not provide comparative data for the prior period to calculate material changes in financial metrics. However, the following corporate actions were approved:
- Dividends: A total cash dividend of 650 KRW per common share was approved, representing 4.0% of the market price of common stock. The total dividend amount is 437,626,296,900 KRW.
- Compensation: Approval was granted for the maximum limit on directors' compensation.
Guidance, Outlook, and Governance
The filing contains no forward-looking guidance, management commentary on future outlook, or discussion of specific risks and contingencies beyond the standard ratification of past performance.
Governance Appointments:
- Standing Director: Jung-Sik Oh was re-appointed for a term from March 2019 to March 2020. His background includes roles as CEO of KB Capital and Executive Vice President at Citibank.
- Audit Committee Member: Jung-Sik Oh was also re-appointed as an audit committee member who is not an outside director for the same term.
Investor Verification Checklist
- Verify the exact payout date and record date for the approved 650 KRW dividend.
- Confirm the specific details of the "maximum limit on directors' compensation" approved at the meeting.
- Review the full 2018 Annual Report (Form 20-F) for detailed segment analysis and risk factors not included in this summary.
- Check for any subsequent filings regarding the implementation of the new director appointments.