Tongyang Life

Woori Financial Group reported second-quarter 2026 net income of KRW 1.0046 trillion, a 66% increase from the previous quarter, driven by record non-interest income and a more than tripling of non-bank contributions. Half-year net income rose 3.7% year over year to KRW 1.609 trillion, while common equity ROE reached 9.0%, or 10.3% excluding one-off items. The group's CET1 ratio improved to 13.71%, enabling the board to approve an additional KRW 150 billion share buyback for the second half, bringing the 2026 total to KRW 350 billion, and a fully non-taxable quarterly cash dividend of KRW 220 per share. Non-interest income climbed 20% year over year to KRW 1,063 billion in the first half, with fee income surpassing KRW 700 billion for the first time in a single quarter, and the non-bank contribution to group net income jumped from 6.9% to 22.3%. Management also approved a comprehensive share exchange to make Tongyang Life a wholly owned subsidiary, expected to close in August, and committed an additional KRW 10 trillion to its future co-growth project, raising the five-year target to KRW 90 trillion.