Credit Card Accounts and Impairment - The beginning balance for Stage 1 credit card accounts was 11,287,068, with an ending balance of 10,532,145, reflecting a net decrease of 754,923[7]. - The total credit impairment model showed a beginning balance of 768,487 and an ending balance of 1,287,639, indicating an increase of 519,152[7]. - For the six-month period ended June 30, 2023, the net increase in credit card receivables was 866,202, while the total credit impairment model increased by 10,777,517[8]. - The company reported a net reversal of allowance for credit losses of 12,570 in Stage 1, while Stage 3 experienced a net provision of (167,464)[6]. - The ending balance for total credit card receivables was 3,128,939, with a net decrease of 877,876 during the period[3]. - The company recorded a charge-off of 158,963 in Stage 3 credit card accounts during the six-month period[6]. - The total credit impairment for Stage 1 was (80,098) at the end of the period, with a beginning balance of (71,139)[6]. - The ending balance for credit impairment model in Stage 2 was (110,146), showing a decrease from the beginning balance of (127,814)[6]. Financial Assets and Liabilities - Total financial assets at FVTPL amounted to 21,544,756 million KRW, with debt securities contributing 6,307,238 million KRW and equity securities at 421,989 million KRW[13]. - Financial assets at FVTOCI totaled 37,891,495 million KRW, primarily driven by debt securities valued at 36,694,111 million KRW[13]. - The total financial liabilities reached 6,291,320 million KRW, with derivative liabilities accounting for 5,943,024 million KRW[13]. - The total financial assets as of June 30, 2024, were 5,875,156 million KRW, with a significant portion from capital contributions at 2,659,555 million KRW[19]. - The total financial liabilities at amortized cost amounted to 455,790,838 million Korean Won, with derivative liabilities at 6,096,031 million Korean Won[27]. - The total financial liabilities as of June 30, 2024, amounted to 32,808,479 million Won, compared to 26,918,902 million Won at the end of 2023, marking an increase of approximately 21.5%[120]. Income and Revenue - The net income for the six-month period ended June 30, 2024, was 93,273 million KRW, with total purchases/issuances amounting to 1,067,174 million KRW[19]. - The company reported a capital contribution increase of 54,051 million KRW during the six-month period, with total capital contributions reaching 2,659,555 million KRW[19]. - The net income for the six-month period ended June 30, 2024, was 1,800,420 million Won, compared to 1,613,812 million Won in 2023, showing an increase of 11.6%[114]. - Operating income for the three-month period ended June 30, 2024, reached 1,253,320 million Won, up from 895,438 million Won in the same period of 2023, representing a significant increase of 40%[114]. - Fees and commissions income for the six-month period ended June 30, 2024, was 1,433,183 million Won, an increase from 1,261,278 million Won in 2023, marking a growth of 13.6%[114]. Investment Funds and Performance - The company is actively involved in various private equity funds, with ownership percentages ranging from 2.1% to 47.8% across different funds, showcasing its diversified investment strategy[29]. - NH Woori Newdeal Growth Alpha Private Equity Fund 1 reported an operating revenue of 40,663 million Won, with a comprehensive income of 38,993 million Won[33]. - Woori General Private Securities Investment Trust No. 5 (Bond) achieved an operating revenue of 6,917 million Won, with a comprehensive income of 5,154 million Won[33]. - Woori Smart General Private Equity Investment Trust 1 reported an operating revenue of 7,373 million and a net income of 3,973 million for the period ending December 31, 2023[34]. - KTBN Venture Fund No.13 achieved an operating revenue of 21,662 million with a net income of 18,507 million[34]. Assets and Property Management - The net carrying value of investment properties as of June 30, 2024, was 2,759,112 million Korean Won, reflecting a decrease from 2,793,077 million Korean Won as of December 31, 2023[40]. - The total acquisition cost of investment properties was 4,578,335 million Korean Won as of June 30, 2024[40]. - The total for accumulated amortization of intangible assets was 85,108 million Korean Won for the six-month period ended June 30, 2024[44]. - The total right-of-use assets at the end of June 2024 were 547,843 million Korean Won, an increase from 370,081 million Korean Won at the end of June 2023[42]. - The total carrying value of investment properties is 3,306,955 million Won, compared to 3,176,759 million Won on December 31, 2023, reflecting an increase of 4.1%[68]. Equity and Capital Structure - As of June 30, 2024, total equity reached 35,147,614 million Won, an increase from 32,691,264 million Won on June 30, 2023, reflecting a growth of approximately 7.5%[116]. - The total amount of hybrid securities increased to 4,409,042 million Won as of June 30, 2024, compared to 3,611,129 million Won at the end of 2023[161]. - The company reported a net defined benefit asset of 107,224 million Won as of June 30, 2024, compared to a net defined benefit asset of 232,321 million Won as of December 31, 2023, indicating a decrease of approximately 53.8%[117]. - The total amount of retained earnings as of June 30, 2024, was 25,916,022 million Won, up from 24,986,470 million Won as of December 31, 2023[161]. - The company issued hybrid securities worth 797,913 million Won during the first half of 2024, contributing to its capital structure[118]. Borrowings and Interest Rates - The interest rate for borrowings from the Bank of Korea (BOK) was 2.0%, with total borrowings in local currency amounting to 14,176,485 million Won[50]. - The total amount of borrowings in foreign currencies was 13,726,098 million Won, with interest rates ranging from 0.0% to 10.6%[50]. - The total amount of borrowings in local currency reached 14,768,494 million Won as of June 30, 2024, reflecting a stable financing structure[80]. - The average interest rate for interest rate swaps (USD) is fixed at 3.60% for receipts and (C.SOFR) + 1.47% for payments[148]. - The total nominal amount for interest rate swaps (USD) is 2,675,000,000, while for KRW it is 300,000[125]. Foreign Operations and Currency Management - The Group's foreign currency exposure arises from investments in Woori America Bank and Woori Bank (Cambodia) PLC, which use USD as their functional currency[124]. - The Group's cash flow hedge strategy aims to mitigate risks from fluctuations in cash flow due to variable interest rates and foreign exchange rates[123]. - The total accumulated profit on foreign currency denominated debentures is 166,906 million KRW, while the accumulated loss on local currency debentures is 2,601 million KRW as of June 30, 2024[153]. - The Group recognized a net operating expense of 46,906 million Won for the six-month period ended June 30, 2024[176]. - The company reported a gain on foreign currency translation of foreign operations amounting to 216,431 million Won for the first half of 2024[116]. Regulatory and Compliance - The Group's financial statements as of December 31, 2023, received an unqualified opinion from auditors, confirming their accuracy and compliance with Korean Standards on Auditing[55]. - The regulatory reserve for credit losses in retained earnings was 2,392,542 million Won as of June 30, 2024[179]. - The Group's credit risk is assessed by adjusting the credit spread based on the Group's credit rating, impacting the fair value of customer deposits[48]. - The Group's total borrowings and debentures details are yet to be fully disclosed, indicating ongoing financial management strategies[106]. - The company recognized changes in the value of hedging instruments amounting to 27,858 million Won in other net operating income for the six-month period ended June 30, 2024[157].

Woori Financial Group Inc. (NYSE:WF) Q2 2023 Earnings Conference Call July 25, 2024 8:00 AM ET Company Participants Han Hong Sung - Head of Investor Relations Lee Sung-Wook - Group Chief Financial Officer Conference Call Participants Han Hong Sung Good afternoon, ladies and gentlemen. I'm Han Hong Sung, Head of IR, here at Woori Financial Group. I would like to sincerely thank all of you for taking the time to participate in Woori Financial Group's Earnings Conference Call despite your busy schedules. On to ...

Core Viewpoint - The Zacks rating system is a valuable tool for investors, particularly due to its focus on earnings estimate revisions, which are closely linked to stock price movements [1][2][3]. Earnings Estimate Revisions - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [2][3]. - The Zacks rating system effectively utilizes earnings estimate revisions to provide a reliable stock rating [3][6]. Woori Bank Analysis - Woori Bank is projected to earn $8.21 per share for the fiscal year ending December 2024, reflecting a year-over-year increase of 10.7% [4]. - The recent upgrade of Woori Bank to a Zacks Rank 2 indicates it is in the top 20% of Zacks-covered stocks based on estimate revisions, suggesting potential for stock price appreciation [10][11]. - Analysts have raised their earnings estimates for Woori Bank, with the Zacks Consensus Estimate increasing by 2.1% over the past three months [15]. Zacks Rating System - The Zacks rating system maintains a balanced distribution of 'buy' and 'sell' ratings across over 4000 stocks, with only the top 20% receiving favorable ratings [5][14]. - The system's track record shows that Zacks Rank 1 stocks have generated an average annual return of +25% since 1988, highlighting its effectiveness [14].

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Table of Contents As filed with the Securities and Exchange Commission on April 29, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number 001-31811 Woori Financial Group Inc. (Exact name of Registrant as ...

Woori Financial Group Inc. (NYSE:WF) Q1 2024 Results Conference Call April 26, 2024 8:00 AM ET Company Participants Han Hong Sung - Head of IR Lee Sung-Wook - Group CFO Oak Il-Jin - Group CDO Park Jang-Geun - Group CRO Han Hong Sung Hello. Good afternoon. I am Han Hong Sung, Head of the IR Department at Woori Financial Group. Let me first begin by thanking everyone for taking time to participate in this Earnings Call for Woori Financial Group. On today's call, we have Group CFO, Lee Sung-Wook; Group CDO, Oa ...

Table of Contents Exhibit 99.1 WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2023 Table of Contents WOORI FINANCIAL GROUP INC. | | Page(s) | | --- | --- | | Independent Auditor's Report | 1-4 | | Consolidated Financial Statements | | | Consolidated Statements of Financial Position | 6 | | Consolidated Statements of Comprehensive Income | 7-8 | | Consolidated Statements of Changes in Equity | 9 | | Consolidated Statements of Cash Flows ...

Summary of Woori Financial Group FY2023 Earnings Conference Call Company Overview - **Company**: Woori Financial Group Inc. (NYSE: WF) - **Date of Call**: February 6, 2024 Key Financial Performance - **Net Income**: KRW 2,516.7 billion, a decrease of 19.9% year-over-year due to one-off factors including preemptive provisions and corporate expenses [4][36] - **SG&A Expenses**: KRW 4,443.9 billion, a decrease of 1.9% year-over-year despite inflationary pressures [6][18] - **Cost-Income Ratio**: 43.5%, a decrease of 0.9 percentage points year-over-year, indicating stable operational efficiency [6][19] - **Credit Cost**: Totaled KRW 1,880.7 billion for 2023, approximately double the previous year, reflecting proactive risk management [7][21] - **MPL Ratio**: 0.35% with a coverage ratio of 229%, the highest level to date, indicating strong loss absorption capabilities [8][22] - **CET1 Ratio**: Expected to be 11.9%, a 0.3% increase from the previous year, demonstrating prudent risk management [9][23] Revenue and Income Sources - **Net Interest Income**: KRW 8,742.5 billion, stable compared to the prior year, but with a 2% decrease in Q4 [11][12] - **Non-Interest Income**: KRW 1,094.8 billion, a decrease of 4.7% year-over-year, but core fee income showed a solid growth trend [15][16] Loan and Asset Management - **Total Loans**: KRW 311 trillion, a 5.1% increase year-over-year, with corporate loans growing by 8% [13][14] - **Real Estate Project Finance Loans**: Total of KRW 3.4 trillion, with proactive evaluations and risk management strategies in place [42][43] Capital Management and Shareholder Returns - **Dividends**: Year-end dividend of KRW 641 per share, with a total shareholder return rate of 33.7% [9][27] - **Shareholder Return Policy**: Plans to increase total shareholder return to 35% when CET1 ratio is above 13% [31][29] - **Future Plans**: Focus on enhancing capital adequacy and managing risk-weighted assets to support shareholder returns [32][33] Risk Management Insights - **Delinquency Rates**: Slight increases in delinquency rates for Woori Bank (0.26%) and Woori Card (1.22%), but still among the lowest in the industry [39] - **Proactive Risk Management**: Emphasis on preemptive provisioning and strengthening loss absorption capacity, particularly in vulnerable sectors [40][41] Strategic Outlook - **2024 Focus**: Emphasis on asset soundness and capital adequacy, with plans to improve portfolio quality and manage high-risk assets [45] - **Market Conditions**: Anticipation of continued high interest rates and market instability, necessitating a robust risk management framework [45] Additional Notes - **Corporate Value Program**: Aimed at addressing stock market undervaluation and enhancing shareholder returns [32] - **Future Dividend Plans**: Aiming to restore dividends to 2022 levels and increase in the future [34] This summary encapsulates the key points discussed during the earnings call, highlighting Woori Financial Group's financial performance, strategic initiatives, and risk management efforts.

Exhibit 99.1 WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES CONSOLIDATED INTERIM FINANCIAL STATEMENTS AS OF AND FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2023 W O O R I F I N A N C I A L G R O U P I N C . | P | a | g | e | ( | s | ) | I | n | d | e | p | e | n | d | e | n | t | A | u | d | i | t | o | r | ' | s | R | e | v | i | e | w | R | e | p | o | r | t | 1 | - | 2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | - ...

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES AS OF AND FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2023 AND 2022 Exhibit 99.1 W O O R I F I N A N C I A L G R O U P I N C . | P | a | g | e | ( | s | ) | I | n | d | e | p | e | n | d | e | n | t | A | u | d | i | t | o | r | ' | s | R | e | v | i | e | w | R | e | p | o | r | t | 1 | - | 2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...