Lim Jong-ryong (임종룡), chairman of Woori Financial Group, bought 5,000 shares of Woori Financial Group Inc on the open market. Group management, including heads of subsidiaries and key executives, also joined the share purchases, with 56 executives taking part.

Woori Financial Group said on Tuesday that Lim bought 5,000 shares of Woori Financial Group Inc on Aug. 24.

The purchase came after Woori Financial completed procedures to make Tongyang Life a wholly owned subsidiary and formalised plans to pursue the integration of Tongyang Life and ABL Life.

A total of 56 people participated in the treasury share purchases, including Lim, the heads of 16 subsidiaries, and key executives at the holding company, bank and major subsidiaries.

Lim is set to hold investor relations meetings for European investors this month. He plans to explain Woori Financial's results and its future management direction and broaden its touchpoints with overseas investors.

A Woori Financial official said the share purchases by group management were intended to show its commitment to responsible management and improving corporate value. The official said it would implement its value-up plan and work to expand shareholder returns.