Woori Financial Group said on March 17 that it has established an emergency management committee within the group.
Woori Financial Group Chairman Son Tae-seung held a video management consultation meeting with CEOs of subsidiaries and executives of holding companies on March 13, saying, "The recent addition of the Pandemic Declaration to the COVID-19 has become a horror that has passed the crisis."
He stressed that it is the first step in emergency management to accurately diagnose the current situation by mobilizing all of the group's capabilities.
At the meeting, Son called for the establishment of an emergency management committee. Therefore, Woori Financial decided to have a strategy team, a financial management team, a risk management team and a market-sensing team under the committee through discussions with CEOs and executives of each subsidiary.
The company also decided to create a "blue team" consisting of the group's young talents with the aim of preparing for growth measures to turn the crisis into opportunities after overcoming the COVID-19 crisis.
The committee will focus on measures to prevent the virus infection, check execution and secure business continuity for group companies, and monitor major indicators of the fast-changing financial market in real time through a newly created emergency management committee to accurately diagnose the crisis.
"The group's response to the COVID- 19 crisis is of course important, but it is also an important role of the emergency management committee to create a way to take the lead in overcoming the national economic crisis," said
Chairman Son. "After tiding over the crisis, we should continue to push for customer-centered financial innovation measures to turn the crisis into an opportunity."