[비즈한국] Woori Bank has announced plans to narrow the gap with other major commercial banks and shift the market landscape this year. Woori Bank recently held its '2026 Management Strategy Meeting,' unveiling plans to strengthen staff expertise, secure high-net-worth clients, operate consultation centers outside of standard business hours, and expand lifestyle convenience services. As Woori Bank CEO Cho Jin-wan enters his second year in office, all eyes are on whether the bank will be able to reverse its rankings this year following his emphasis on 'proving it with results.'
Woori Bank held its 2026 Management Strategy Meeting on January 23 at Paradise City in Incheon, attended by over 900 employees, including CEO Cho Jin-wan. The bank presented four strategic directions: expanding the customer base, strengthening profitability, future growth, and responsible management.
CEO Cho emphasized the need for tangible results from his staff. He stated, "If 2025 was a time to lay the foundation and build stamina, 2026 must be the year we prove ourselves with results," adding, "If we clarify our direction and drive changes in the field, we can narrow the gap with competing banks and change the market landscape."
CEO Cho ordered the advancement of specialized channels in the corporate and Wealth Management (WM) sectors to transform sales methods. The goal is to attract high-quality companies through specialized corporate channels in line with the productive finance trend, and to secure high-net-worth individuals through dedicated WM channels. To provide customized financial solutions, the bank is also enhancing employee expertise. Through an upgraded Career Development Plan (CDP), the bank plans to foster specialists by establishing new roles for 'asset consultation' and 'business succession' for semi-wealthy clients, alongside existing roles like Relationship Managers (RM) and Private Bankers (PB).
Woori Bank also announced the pilot operation of hub-based 'professional consultation centers' to address the needs of office workers and the self-employed. These centers will serve as face-to-face consultation channels for those who require services outside of regular business hours, such as weekday evenings or weekends. Details regarding operational methods and hours are yet to be finalized.
According to the bank, these centers will be located separately from existing branches and will involve collaboration between current staff and rehired retirees. The centers will focus solely on consultation, while financial product subscriptions or loan processing will continue to be handled at nearby branches or via the bank's app (WON Banking).
The bank is also pursuing AI-based process efficiency to increase speed and accuracy. It plans to utilize AI agents across five key areas: customer consultation, business automation, WM/RM support, corporate lending, and internal controls. Woori Bank has been pushing for a transition to AI-driven management systems since last year. It has launched generative AI-based deposit, loan, and housing subscription consultation services, and recently expanded AI consultations to all non-face-to-face loan products by revamping its AI loan counselor service.
Recognizing the strengthening of digital platforms as a future growth engine, the bank recruited Jung Eui-chul, former vice president of Samsung Electronics' MX Business Division (Stock Code 005930), as the head of the Digital Sales Group (executive vice president level). Starting work on January 2, Jung oversees Woori Bank's non-face-to-face sales and digital platform strategies. Regarding his appointment, the bank explained, "We expect his experience from Samsung Electronics to play a decisive role in strengthening the competitiveness of our integrated personal and corporate AI-driven platform."
The bank is also actively introducing lifestyle convenience services. Following collaborations with Samsung Electronics, GS25, and Lotte On in 2025, it is preparing partnerships for 2026 with CU, Nol Universe, Daiso, and Mega Coffee. CEO Cho Jin-wan said, "Customer influx now occurs through daily payments and experiences, not just banking business. Through payments, customers will naturally continue their transactions with the bank." He added that they are conceptualizing products like a 'Super Passbook (tentative name)' that aggregates benefits from partner companies.
Woori Bank is also active in expanding non-financial new businesses. As an extension of increasing customer touchpoints, the bank will launch the ticket booking platform 'TWO THE MOON' in the first quarter. This is being prepared as a separate app rather than a service within the bank app, and will feature performances, exhibitions, and sports products in partnership with NOL Ticket.
The goal of increasing customer touchpoints through lifestyle services is to boost actual profitability. By acquiring customers through these convenience services, the bank aims to drive business performance through expanded deposits and loans, payment-linked accounts, and retirement pension acquisition. CEO Cho stated, "There must be customers to create transactions, and only when transactions accumulate can we generate profits."
Meanwhile, the change in messaging is notable given that CEO Cho, now in his second year, has cited 'results' and 'narrowing the gap' as his management strategy. Upon taking office in January 2025, he focused on 'restoring trust' and 'mutual growth,' but for 2026, he has shifted the emphasis to competition and results. This recalls the tenure of his predecessor, Cho Byung-kyu, who set goals of reaching the number one spot in net profit among commercial banks and becoming a leading bank, but finished his term without achieving them.
The fact that Woori Bank recorded disappointing results compared to other commercial banks during Cho's first year is also a factor driving this emphasis on performance. In the third quarter of 2025, Woori Bank's cumulative net profit was 2.288 trillion won, the lowest among the four major commercial banks (KB Kookmin, Shinhan, Hana, and Woori). During the same period, KB Kookmin Bank recorded 3.3645 trillion won, Shinhan Bank 3.3561 trillion won, and Hana Bank 3.1333 trillion won.
In his New Year's address, CEO Cho emphasized, "2026 could be the last opportunity to narrow the gap with competing banks," adding, "We must drive change with the awareness that our choices and execution this year will determine our future competitiveness."