SEOUL — Woori Financial Group announced on July 24, 2026, that it achieved a consolidated net profit of 1.609 trillion KRW (approximately $1.16 billion USD) for the first half of the year. The result marks a decisive earnings turnaround driven by a record-breaking second-quarter performance, where net income topped 1 trillion KRW ($720 million USD).

Despite a challenging financial landscape shaped by geopolitical instability in the Middle East, high global interest rates, and foreign exchange volatility, Woori Financial demonstrated robust earnings resilience. The performance highlights the early successes of Chairman Yim Jong-yong’s strategic pivot toward building a balanced non-banking portfolio alongside the group’s core banking franchise.

Key Financial Highlights (H1 2026)

Total Net Operating Revenue: Reached an all-time high of 5.7227 trillion KRW ($4.13 billion USD).
Interest Income: Grew 3% year-over-year to 4.6597 trillion KRW ($3.36 billion USD), supported by low-cost core deposit growth and ongoing asset rebalancing at Woori Bank.
Non-Interest Income: Jumped 20% year-over-year to 1.063 trillion KRW ($767 million USD), driven by wealth management fees, foreign exchange hedging gains, and expanded capital market operations.
Non-Banking Profit Contribution: Soared to over 22% of total group earnings—more than tripling its share compared to the same period last year.

Non-Banking Expansion Takes Center Stage

While Woori Bank remained the primary revenue driver with a first-half net profit of 1.373 trillion KRW ($991 million USD), the spotlight shifted to the non-banking subsidiaries, which have emerged as a powerful new growth engine for the group.

       [ H1 2026 Non-Banking Subsidiaries Net Profit ]

       Woori Card          :  94.5B KRW
       Dongyang Life       :  91.9B KRW
       Woori Fin Capital   :  76.9B KRW
       Woori Investment    :  24.7B KRW (+44% YoY)

The integration of Dongyang Life Insurance following its acquisition marked a major milestone, giving Woori a full-fledged insurance pillar that immediately padded non-banking fee income. Meanwhile, Woori Investment & Securities—relaunched after merging Woori Investment Bank with Korea Investment & Securities—benefited from a recent 1 trillion KRW capital injection, boosting its net profit by 44% year-over-year to 24.7 billion KRW ($17.8 million USD). Double-digit profit gains from Woori Card and Woori Financial Capital further reinforced a well-diversified earnings structure.

Record Shareholder Return Policy

Capitalizing on its fundamental recovery, Woori Financial's board approved an aggressive shareholder return program:

Q2 Dividend: Declared a quarterly cash dividend of 220 KRW per share. Notably, Woori remains the only major Korean bank holding company offering tax-exempt dividends to domestic retail investors via its capital reserve reduction structure.
Share Repurchase & Cancellation: Announced an additional 150 billion KRW share buyback for the second half of the year. This brings the total planned share buyback and cancellation for 2026 to 350 billion KRW—a 133% increase from the previous year's 150 billion KRW and the largest in the group's history.
"Restoring quarterly net profit to above 1 trillion KRW proves that Woori's fundamental earning power has reached a higher tier," a Woori Financial spokesperson said. "We will continue leveraging our top-tier capital adequacy to enhance total shareholder return and drive sustainable corporate value."

[Copyright (c) Global Economic Times. All Rights Reserved.]