Board Diversity Guideline

 

Woori Financial Group actively considers diversity factors such as gender, race,ethnicity, country of origin or nationality, age, experience, cultural background, and religion in the nomination process. While determining the composition of the Board, we strive to enhance the operational efficiency of the Board of Directors by electing specialists in diverse areas.

 

This guideline sets out the approach that Woori Financial Group should adopt when the Board makes important decisions in consideration of the interests of stakeholders such as shareholders and financial consumers, on strengthening their diversity and expertise

 

□ Respect for Diversity

• Gender: We actively consider gender diversity by ensuring the Board of Directors is not composed of a single gender. • Nationality: We identify suitable board candidates with diverse culture, environment, and lifestyle which corresponds to global standards in governance structures. • Experience: We ensure not to favor any particular background or country of origin, while considering the attributes of the financial industry. • Others: We rule out exclusiveness to the utmost extent by avoiding exclusivity in traits such as race, religion, and ethnicity to integrate diversity in an inclusive perspective.

□ Strengthening Expertise

• Required Areas of Expertise: Finance, Economy, Management, Law, and Accounting • Detailed Expertise: Candidates should possess the expertise required for our continued growth, such as digital skills, ESG, global-mindedness, risk management, consumer protection, etc.

 

We shall ensure that the Board of Directors is composed of people from diverse backgrounds with a wealth of experience based on our conviction that the Board will operate more efficiently and cope more effectively with markets and financial environments based on reasonable and balanced decision-making 

 

The foregoing Principles were adopted pursuant to review and approved by the ESG Management Committee of Woori Financial Holdings’ Board of Directors, and may be amended as and when required by the committee.

 

April 26, 2024

Woori Financial Group