Operating segments

12 Months Ended

Dec. 31, 2025

Disclosure of operating segments [abstract]

6. OPERATING SEGMENTS

In evaluating the results of the Group and allocating resources, the Group’s Chief Operation Decision Maker (“CODM”) utilizes the method of disclosing the financial information of the segments based on the organization of the Group. This financial information on the segments in this note is regularly reviewed by the CODM.

(1) Segment by type of organization

The Group’s reporting segments consist of banking, insurance, credit card, capital, investment securities and other sectors, and the composition of such reporting segments was divided based on internal report data periodically reviewed by the management to evaluate the performance of the segment and make decisions on the resources to be distributed.


		Operational scope
Banking		Loans/deposits and relevant services for customers of Woori Bank and its subsidiaries
Insurance		Contracting and maintenance of insurance policies, payment of insurance benefits, provision of life insurance-related services, and accompanying business for customers of Tongyang Life Insurance Co., Ltd. and ABL Life Insurance Co., Ltd.
Credit card		Credit card, cash services, card loans and accompanying business of Woori Card Co., Ltd.
Capital		Installments, loans including lease financing, and accompanying business of Woori Financial Capital Co., Ltd.
Investment Securities		Securities operation, sale of financial instruments, project financing and other related activities for investment securities of Woori Investment Securities Co., Ltd.
Others		Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Ltd., Woori Financial F&I Co., Ltd., Woori Savings Bank., Woori Credit Information Co., Ltd., Woori Fund Services Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori FIS Co., Ltd., Woori Finance Research Institute and Woori Venture Partners Co., Ltd.

(2) The composition of each organization’s sectors for the years ended December 31, 2023, 2024 and 2025 are as follows (Unit: Korean Won in millions):


	For the year ended December 31, 2023
	Banking			Credit card			Capital			Investment banking			Others (*1)			Sub-total			Other adjustments (*2)			Internal adjustments (*3)			Consolidated Adjustments (*4)			Total
Net interest income		6,535,929			667,053			324,013			100,041			115,089			7,742,125			79,401			917,949			3,065			8,742,540
Non-interest income(expense)		1,475,139			121,593			129,347			44,595			2,011,486			3,782,160			14,475			(740,918	)		(1,960,879	)		1,094,838
Impairment losses due to credit loss		(894,827	)		(355,879	)		(188,682	)		(160,182	)		(119,684	)		(1,719,254	)		—			(177,384	)		1,722			(1,894,916	)
General and administrative expense		(3,799,282	)		(285,308	)		(96,469	)		(51,496	)		(556,427	)		(4,788,982	)		(823	)		—			346,372			(4,443,433	)

Net operating income(expense)		3,316,959			147,459			168,209			(67,042	)		1,450,464			5,016,049			93,053			(353	)		(1,609,720	)		3,499,029

Share of gain of associates		88,788			—			395			236			3,373			92,792			(143	)		—			17,182			109,831
Other non-operating expense		(76,312	)		(4,163	)		(2,106	)		(990	)		(972	)		(84,543	)		3,153			353			(10,370	)		(91,407	)

Non-operating income(expense)		12,476			(4,163	)		(1,711	)		(754	)		2,401			8,249			3,010			353			6,812			18,424

Net income(expense) before tax		3,329,435			143,296			166,498			(67,796	)		1,452,865			5,024,298			96,063			—			(1,602,908	)		3,517,453
Tax expense		(814,354	)		(31,232	)		(38,662	)		14,423			(31,833	)		(901,658	)		—			—			11,099			(890,559	)

Net income(loss)		2,515,081			112,064			127,836			(53,373	)		1,421,032			4,122,640			96,063			—			(1,591,809	)		2,626,894

Total assets		458,017,067			17,491,193			12,417,338			6,375,625			29,725,013			524,026,236			2,846,897			—			(28,868,197	)		498,004,936

Investment in associate		1,029,697			—			34,613			4,783			23,882,409			24,951,502			26,302			—			(23,182,434	)		1,795,370
Other assets		456,987,370			17,491,193			12,382,725			6,370,842			5,842,604			499,074,734			2,820,595			—			(5,685,763	)		496,209,566

Total liabilities		431,313,615			14,830,408			10,796,683			5,273,890			4,424,086			466,638,682			118,442			—			(2,149,678	)		464,607,446

(*1)

Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd., Woori Finance Research Institute and Woori Venture Partners Co., Ltd.

(*2)	Other adjustments include the funds subject to Group’s consolidation not included in the reporting segment.

(*3)

Internal adjustments include the adjustment of deposit insurance

premiums of KRW 464,213 million and fund contribution fees of KRW 453,805 million from net interest income expenses to non-interest income expenses in order to present the profit and loss adjustment between reporting divisions in accordance with management accounting standards as profit and loss in accordance with accounting standards

(*4)	Consolidation adjustments include the elimination of KRW 343,810 million of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of KRW 1,482,956 million of dividends received by the holding company from its subsidiaries.


	For the year ended December 31, 2024
	Banking(*1)			Credit card			Capital			Investment banking			Others (*2)			Sub-total			Other adjustments (*3)			Internal adjustments (*4)			Consolidated Adjustments (*5)			Total
Net interest income		6,542,449			706,130			231,596			106,558			129,900			7,716,633			126,600			1,042,561			542			8,886,336
Non-interest income(expense)		1,944,528			192,194			144,097			51,629			1,578,890			3,911,338			70,545			(769,593	)		(1,658,168	)		1,554,122
Impairment losses due to credit loss		(670,753	)		(403,805	)		(84,017	)		(91,351	)		(176,511	)		(1,426,437	)		(13,884	)		(273,889	)		(2,085	)		(1,716,295	)
General and administrative expense		(3,746,916	)		(302,067	)		(103,870	)		(74,191	)		(420,370	)		(4,647,414	)		(1,104	)		—			179,545			(4,468,973	)

Net operating income(expense)		4,069,308			192,452			187,806			(7,355	)		1,111,909			5,554,120			182,157			(921	)		(1,480,166	)		4,255,190

Share of gain(loss) of associates		44,067			—			(1,262	)		215			5,316			48,336			(4	)		—			27,933			76,265
Other non-operating income(expense)		(104,388	)		(4,053	)		(2,579	)		7,476			10,440			(93,104	)		8,535			921			(24,960	)		(108,608	)

Non-operating income(expense)		(60,321	)		(4,053	)		(3,841	)		7,691			15,756			(44,768	)		8,531			921			2,973			(32,343	)

Net income(expense) before tax		4,008,987			188,399			183,965			336			1,127,665			5,509,352			190,688			—			(1,477,193	)		4,222,847
Tax expense		(962,051	)		(40,349	)		(42,547	)		2,216			(17,756	)		(1,060,487	)		—			—			9,109			(1,051,378	)

Net income(loss)		3,046,936			148,050			141,418			2,552			1,109,909			4,448,865			190,688			—			(1,468,084	)		3,171,469

Total assets		485,888,941			16,613,482			12,770,681			7,186,431			30,774,925			553,234,460			3,565,728			—			(31,046,868	)		525,753,320

Investment in associate		1,067,880			—			32,207			3,297			24,475,044			25,578,428			7,347			—			(23,836,965	)		1,748,810
Other assets		484,821,061			16,613,482			12,738,474			7,183,134			6,299,881			527,656,032			3,558,381			—			(7,209,903	)		524,004,510

Total liabilities		456,944,053			13,828,816			11,045,686			6,041,109			4,919,608			492,779,272			73,587			—			(2,994,808	)		489,858,051

(*1)	The banking sector includes banks and their consolidated subsidiaries (such as overseas subsidiaries).

(*2)

Other segments include Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori FIS Co., Ltd., Woori Finance Research Institute and Woori Venture Partners Co., Ltd.

(*3)	Other adjustments include the funds subject to Group’s consolidation not included in the reporting segment.

(*4)

Internal adjustments include the adjustment of deposit insurance premiums of 509,832 million Won and fund contribution fees of 533,335 million Won from net interest income expenses to non-interest income expenses in order to present the profit and loss adjustment between reporting divisions in accordance with management accounting standards as profit and loss in accordance with accounting standards.

(*5)	Consolidation adjustments include the elimination of 175,437 million Won of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of 1,208,522 million Won of dividends received by the holding company from its subsidiaries.


	For the year ended December 31, 2025
	Banking (*1)			Life insurance			Credit card			Capital			Investment securities			Others (*2)			Sub-total			Other adjustments (*3)			Internal adjustments (*4)			Consolidated adjustments (*5)			Total
Net interest income		6,807,324			(105,758	)		756,173			210,502			120,077			63,915			7,852,233			145,730			1,030,834			1,972			9,030,769
Non-interest income(expense)		2,133,050			271,296			212,462			214,798			67,059			1,765,771			4,664,436			5,905			(935,248	)		(1,808,619	)		1,926,474
Impairment losses due to credit loss		(1,126,171	)		(5,833	)		(433,302	)		(120,217	)		(31,880	)		(282,653	)		(2,000,056	)		(4,692	)		(96,119	)		(1,947	)		(2,102,814	)
General and administrative expense		(4,293,462	)		(51,665	)		(321,777	)		(107,697	)		(145,038	)		(439,413	)		(5,359,052	)		(601	)		—			180,032			(5,179,621	)

Net operating income(expense)		3,520,741			108,040			213,556			197,386			10,218			1,107,620			5,157,561			146,342			(533	)		(1,628,562	)		3,674,808

Share of gain(loss) of associates		45,928			—			—			(373	)		123			43,607			89,285			1,686			—			7,689			98,660
Other non-operating income (expense)		(207,481	)		3,075			(18,316	)		(2,282	)		(50	)		(166,826	)		(391,880	)		1,888			533			706,157			316,698

Non-operating income(expense)		(161,553	)		3,075			(18,316	)		(2,655	)		73			(123,219	)		(302,595	)		3,574			533			713,846			415,358

Net income(expense) before tax		3,359,188			111,115			195,240			194,731			10,291			984,401			4,854,966			149,916			—			(914,716	)		4,090,166
Tax expense		(777,091	)		(11,521	)		(44,108	)		(46,004	)		17,153			(5,197	)		(866,768	)		—			—			4,110			(862,658	)

Net income(loss)		2,582,097			99,594			151,132			148,727			27,444			979,204			3,988,198			149,916			—			(910,606	)		3,227,508

Total assets		502,846,197			55,054,508			17,512,741			12,361,366			9,706,286			31,861,645			629,342,743			3,922,774			—			(31,808,231	)		601,457,286

Investment in associate		1,095,521			—			—			31,002			4,369			25,934,437			27,065,329			—			—			(24,985,321	)		2,080,008
Other assets		501,750,676			55,054,508			17,512,741			12,330,364			9,701,917			5,927,208			602,277,414			3,922,774			—			(6,822,910	)		599,377,278

Total liabilities		473,158,744			52,279,416			14,620,417			10,523,678			8,504,657			6,370,831			565,457,743			71,563			—			(1,931,268	)		563,598,038

(*1)	The banking sector includes banks and their consolidated subsidiaries (such as overseas subsidiaries).

(*2)

Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori FIS Co., Ltd., Woori Finance Research Institute and Woori Venture Partners Co., Ltd.

(*3)	Other adjustments include the funds subject to Group’s consolidation not included in the reporting segment.

(*4)

Internal adjustments include the adjustment of deposit insurance

premiums of 500,480 million Won and fund contribution fees of 528,863 million Won from net interest income expenses to non-interest income expenses in order to present the profit and loss adjustment between reporting divisions in accordance with management accounting standards as profit and loss in accordance with accounting standards.

(*5)	Consolidation adjustments include the elimination of 133,276 million Won of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of 1,448,486 million Won of dividends received by the holding company from its subsidiaries.

(3)	Operating profit or loss from external customers for the years ended December 31, 2023, 2024 and 2025 are as follows (Unit: Korean Won in millions):


	For the years ended December 31
Details	2023		2024		2025
Domestic		3,055,926		3,767,897		3,430,352
Foreign		443,103		487,293		244,456

Total		3,499,029		4,255,190		3,674,808

(4) Major non-current assets as of December 31, 2024 and 2025 are as follows (Unit: Korean Won in millions):


Details (*)	December 31, 2024		December 31, 2025
Domestic		6,068,817		7,364,083
Foreign		592,768		552,243

Total		6,661,585		7,916,326

(*)	Major non-current assets included joint ventures and related business investments, investment properties, premises and equipment, and intangible assets.

(5) Information about major customers

The Group does not have any single customer that generates 10% or more of the Group’s total revenue for the years ended December 31, 2024 and 2025.