Business Context and Reporting Period
This Form 6-K filing by Woori Financial Group Inc. (Woori Bank) reports the results of the Annual General Meeting of Shareholders held on March 23, 2018. The meeting ratified the financial statements for the fiscal year ended December 31, 2017, approved the appointment of a new non-standing director, and set the maximum limit on directors' compensation.
Key Financial Metrics (Fiscal Year 2017)
The filing provides consolidated and separate financial data in millions of KRW. Revenue is defined as the sum of interest income, fee and commission income, dividend income, gain on financial assets, and other operating income.
| Metric | Consolidated | Separate |
|---|---|---|
| Total Assets | 316,295,461 | 296,737,571 |
| Total Liabilities | 295,730,561 | 276,943,481 |
| Total Shareholder's Equity | 20,564,900 | 19,794,090 |
| Revenue | 23,725,106 | 21,006,168 |
| Operating Income | 2,156,742 | 1,790,558 |
| Net Income | 1,530,088 | 1,276,112 |
| Earnings Per Share (KRW) | 1,999 | 1,648 |
Dividends: Total cash dividends for fiscal year 2017 were 600 KRW per common share, representing 3.7% of the market price. The total dividend amount distributed was 403,962,735,600 KRW.
Material Changes and Corporate Actions
- Director Appointment: Chang-Sik Bae was appointed as a Non-standing Director. His term runs from the March 2018 AGM to the end of the March 2020 AGM. He is currently the Head of the Office of Human Resources Development at the Korea Deposit Insurance Corporation (KDIC).
- Financial Ratification: Shareholders approved the 2017 financial statements with an independent auditor's opinion of "No exceptions" for both consolidated and separate reports.
Guidance, Outlook, and Risks
The filing text does not provide specific forward-looking guidance, management commentary on future outlook, or a detailed discussion of risks and contingencies beyond the standard ratification of past performance. The document focuses strictly on the outcomes of the shareholder meeting.
Investor Verification Checklist
- Verify the full text of the 2017 Annual Report to confirm the "No exceptions" auditor opinion details.
- Confirm the exact market price of common stock used to calculate the 3.7% dividend yield.
- Review the specific terms of the maximum limit on directors' compensation approved at the meeting.
- Check for any subsequent filings regarding the transition of Chang-Sik Bae into his new director role.