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Finance

Woori Bank to create financial consumer protection committee on board

Woori Bank said on Wednesday it will establish a Financial Consumer Protection Committee within its board to make consumer protection a core management value. It said the move is aimed at preemptively implementing the Financial Supervisory Service\'s model practices on financial consumer protection governance and embedding protection across management. The committee will be set up on March 20, meet at least twice a year and review key strategies, policies and rule changes.

Finance

Woori Financial names separate group chief consumer protection officer

Woori Financial Group said it created a consumer protection division at its holding company and appointed a dedicated chief consumer protection officer. It said this is the first case among South Korean financial holding companies to name a holding-company-only CCO rather than a concurrent post. The group will oversee consumer protection policies across all subsidiaries. Woori also completed CEO recommendations for 11 subsidiaries, extending 10 terms by a year and replacing the Woori FIS CEO.