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[Alpha Biz= Kim Jisun] Woori Financial Group's management evaluation rating has been downgraded from Grade 2 to Grade 3 for the first time in 21 years.


On Wednesday (19th), the Financial Supervisory Service (FSS) announced that it had notified Woori Financial Group of the results of its management evaluation conducted last year.


The FSS explained that multiple factors contributed to the downgrade, particularly concerning internal control and risk management across the entire Woori Financial Group.


In particular, the risk management sector faced criticism for inadequate pre-evaluation in major management decisions such as subsidiary M&A activities, insufficient subsidiary risk limit management, and poor handling of financial incidents, including large-scale and repeated improper loans by key subsidiaries.

 

 

 

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