Lim Jong-ryong (임종룡), chairman of Woori Financial Group, was confirmed on March 23 as the group’s new chairman at its annual general meeting of shareholders. Lim had been selected as a chairman candidate by the executive nomination committee in December and secured shareholder approval on the day, confirming his reappointment. His new term runs through March 2029. Shareholders also approved the appointment of three outside directors: Yoon In-seop, Ryu Jung-hye and Jung Yong-gun.

Solum and Align Partners Asset Management said on Sunday they reached a broad agreement to overhaul the board structure and raise shareholder value. They plan to seek bylaw changes at the 2026 shareholders meeting to make a majority of the board independent and staff key committees entirely with independent directors. The deal also addresses a dispute over redeemable convertible preferred shares and includes measures on audit expansion, incentives and management succession.