| Equity |
(1) |
Details of equity as of December 31, 2024 and 2025 are as follows (Unit: Korean Won in millions): |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
Capital |
|
|
|
|
|
|
|
|
Common stock capital |
|
|
3,802,676 |
|
|
|
3,802,676 |
|
Hybrid securities |
|
|
3,810,435 |
|
|
|
3,710,498 |
|
Capital surplus |
|
|
|
|
|
|
|
|
Paid in capital in excess of par |
|
|
854,499 |
|
|
|
854,499 |
|
Others |
|
|
79,601 |
|
|
|
78,937 |
|
|
|
|
|
|
|
|
|
|
Sub-total |
|
|
934,100 |
|
|
|
933,436 |
|
|
|
|
|
|
|
|
|
|
Capital adjustments |
|
|
|
|
|
|
|
|
Treasury stocks |
|
|
(35,517 |
) |
|
|
(35,517 |
) |
|
|
|
(1,699,038 |
) |
|
|
(1,646,069 |
) |
|
|
|
|
|
|
|
|
|
Sub-total |
|
|
(1,734,555 |
) |
|
|
(1,681,586 |
) |
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income |
|
|
|
|
|
|
|
|
Net gain on credit risk fluctuation of financial liabilities designated to be measured at FVTPL |
|
|
1,348 |
|
|
|
1,274 |
|
Financial assets at FVTOCI |
|
|
60,438 |
|
|
|
(1,106,650 |
) |
Changes in capital due to equity method |
|
|
(1,886 |
) |
|
|
(4,222 |
) |
Net financial gain(loss) on insurance contract assets(liabilities) |
|
|
— |
|
|
|
1,534,528 |
|
Net financial gain(loss) on reinsurance contract assets(liabilities) |
|
|
— |
|
|
|
(10,462 |
) |
Gain on foreign currency translation of foreign operations |
|
|
523,780 |
|
|
|
416,768 |
|
Loss on hedges of net investment in foreign operations |
|
|
(149,577 |
) |
|
|
(127,258 |
) |
Remeasurements of defined benefit plan |
|
|
(86,218 |
) |
|
|
(96,991 |
) |
Loss on valuation of cash flow hedge |
|
|
(14,215 |
) |
|
|
(144,728 |
) |
|
|
|
|
|
|
|
|
|
Sub-total |
|
|
333,670 |
|
|
|
462,259 |
|
|
|
|
|
|
|
|
|
|
Retained earnings (*2) (*3) |
|
|
26,950,510 |
|
|
|
28,790,056 |
|
Non-controlling interest (*4) (*5) |
|
|
1,798,433 |
|
|
|
1,841,909 |
|
|
|
|
|
|
|
|
|
|
Total |
|
|
35,895,269 |
|
|
|
37,859,248 |
|
|
|
|
|
|
|
|
|
|
| (*1) |
Included 178,060 million Won in capital transaction gains and losses recognized by Woori Bank and (formerly) Woori Financial Group in 2014 and 2,238,228 million Won due to the spin-off of Gyeongnam Bank and Gwangju Bank. |
| (*2) |
The regulatory reserve for credit losses in retained earnings amounted to 2,392,542 million Won and million Won as of December 31, 2024 and 2025, respectively in accordance with the relevant article. |
| (*3) |
The earned surplus reserve in retained earnings amounted to 442,650 million Won and million Won as of December 31, 2024 and 2025 in accordance with the Article 53 of the Financial Holding Company Act. |
| (*4) |
The hybrid securities issued by Woori Bank amounting to 1,645,947 million Won and 1,406,513 million Won as of December 31, 2024 and 2025, respectively, are recognized as non-controlling interests. 76,249 million Won and 89,134 million Won of dividends for the hybrid securities issued by Woori Bank are allocated to net profit and loss of the non-controlling interests for the years ended December 31, 2024 and 2025, respectively. |
(*5) |
million Won of dividends for the hybrid securities issued by Tongyang Life Insurance Co., Ltd. are allocated to net profit and loss of the non-controlling interests for the year ended December 31, 2025. |
| (2) |
The number of authorized shares and others of the Group are as follows: |
|
|
|
|
|
| |
|
|
|
|
Shares of common stock authorized |
|
4,000,000,000 Shares |
|
4,000,000,000 Shares |
Par value |
|
5,000 Won |
|
5,000 Won |
Shares of common stock issued |
|
742,591,501 Shares |
|
734,076,320 Shares |
|
|
3,802,676 million Won |
|
3,802,676 million Won |
(*) |
Due to profit cancellation, the capital stock differs from the total par value of the shares issued. |
The bond-type hybrid securities classified as shareholders’ equity are as follows (Unit: Korean Won in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities in local currency |
|
2020-02-06 |
|
|
— |
|
|
|
3.34 |
|
|
|
400,000 |
|
|
|
— |
|
Securities in local currency |
|
2020-06-12 |
|
|
— |
|
|
|
3.23 |
|
|
|
300,000 |
|
|
|
— |
|
Securities in local currency |
|
2020-10-23 |
|
|
— |
|
|
|
3.00 |
|
|
|
200,000 |
|
|
|
— |
|
Securities in local currency |
|
2021-04-08 |
|
|
— |
|
|
|
3.15 |
|
|
|
200,000 |
|
|
|
200,000 |
|
Securities in local currency |
|
2021-10-14 |
|
|
— |
|
|
|
3.60 |
|
|
|
200,000 |
|
|
|
200,000 |
|
Securities in local currency |
|
2022-02-17 |
|
|
— |
|
|
|
4.10 |
|
|
|
300,000 |
|
|
|
300,000 |
|
Securities in local currency |
|
2022-07-28 |
|
|
— |
|
|
|
4.99 |
|
|
|
300,000 |
|
|
|
300,000 |
|
Securities in local currency |
|
2022-10-25 |
|
|
— |
|
|
|
5.97 |
|
|
|
220,000 |
|
|
|
220,000 |
|
Securities in local currency |
|
2023-02-10 |
|
|
— |
|
|
|
4.65 |
|
|
|
300,000 |
|
|
|
300,000 |
|
Securities in local currency |
|
2023-09-07 |
|
|
— |
|
|
|
5.04 |
|
|
|
200,000 |
|
|
|
200,000 |
|
Securities in local currency |
|
2024-02-07 |
|
|
— |
|
|
|
4.49 |
|
|
|
400,000 |
|
|
|
400,000 |
|
Securities in local currency |
|
2024-06-19 |
|
|
— |
|
|
|
4.27 |
|
|
|
400,000 |
|
|
|
400,000 |
|
Securities in local currency |
|
2024-10-10 |
|
|
— |
|
|
|
4.00 |
|
|
|
400,000 |
|
|
|
400,000 |
|
Securities in local currency |
|
2025-05-13 |
|
|
— |
|
|
|
|
|
|
|
— |
|
|
|
400,000 |
|
Securities in local currency |
|
2025-10-22 |
|
|
— |
|
|
|
|
|
|
|
— |
|
|
|
400,000 |
|
Issuance cost |
|
|
|
|
|
|
|
|
|
|
|
|
(9,565 |
) |
|
|
(9,502 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
3,810,435 |
|
|
|
3,710,498 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The hybrid securities mentioned above do not have maturity date but are redeemable after 5 years from date of issuance.
| (4) |
Accumulated other comprehensive income | Changes in the accumulated other comprehensive income are as follows (Unit: Korean Won in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the year ended December 31, 2023 |
|
| |
|
|
|
|
|
|
|
Reclassification
adjustments |
|
|
|
|
|
|
|
Net gain (loss) on valuation of financial assets at FVTOCI |
|
|
(645,731 |
) |
|
|
783,583 |
|
|
|
200,309 |
|
|
|
(258,467 |
) |
|
|
79,694 |
|
Changes in capital due to equity method |
|
|
475 |
|
|
|
(1,434 |
) |
|
|
— |
|
|
|
4,430 |
|
|
|
3,471 |
|
Gain (loss) on foreign currency translation of foreign operations |
|
|
(24,202 |
) |
|
|
39,458 |
|
|
|
— |
|
|
|
323 |
|
|
|
15,579 |
|
Gain (loss) on hedges of net investment in foreign operations |
|
|
(20,701 |
) |
|
|
(19,088 |
) |
|
|
— |
|
|
|
5,039 |
|
|
|
(34,750 |
) |
Remeasurement gain (loss) related to defined benefit plan |
|
|
55,235 |
|
|
|
(108,217 |
) |
|
|
— |
|
|
|
28,720 |
|
|
|
(24,262 |
) |
Gain (loss) on valuation of cash flow hedge |
|
|
(4,282 |
) |
|
|
(15,906 |
) |
|
|
(944 |
) |
|
|
326 |
|
|
|
(20,806 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
(639,206 |
) |
|
|
678,396 |
|
|
|
199,365 |
|
|
|
(219,629 |
) |
|
|
18,926 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (*) |
The increase(decrease) of financial asset valuation profit or loss at fair value through other comprehensive income and non-current assets held for sale are changes due to the period evaluation, and the reclassification adjustments amounting to 86 million Won and (50) million Won are due to disposal of equity securities and non-current assets held for sale, respectively during the period. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the year ended December 31, 2024 |
|
| |
|
|
|
|
|
|
|
Reclassification
adjustments |
|
|
|
|
|
|
|
Net gain (loss) on valuation of financial assets at FVTOCI |
|
|
79,694 |
|
|
|
(12,498 |
) |
|
|
(22,704 |
) |
|
|
15,946 |
|
|
|
60,438 |
|
Net gain on credit risk fluctuation of financial liabilities designated to be measured at FVTPL |
|
|
— |
|
|
|
1,831 |
|
|
|
— |
|
|
|
(483 |
) |
|
|
1,348 |
|
Changes in capital due to equity method |
|
|
3,471 |
|
|
|
(6,965 |
) |
|
|
— |
|
|
|
1,608 |
|
|
|
(1,886 |
) |
Gain (loss) on foreign currency translation of foreign operations |
|
|
15,579 |
|
|
|
529,531 |
|
|
|
— |
|
|
|
(21,330 |
) |
|
|
523,780 |
|
Gain (loss) on hedges of net investment in foreign operations |
|
|
(34,750 |
) |
|
|
(156,015 |
) |
|
|
— |
|
|
|
41,188 |
|
|
|
(149,577 |
) |
Remeasurement gain (loss) related to defined benefit plan |
|
|
(24,262 |
) |
|
|
(84,590 |
) |
|
|
— |
|
|
|
22,634 |
|
|
|
(86,218 |
) |
Gain (loss) on valuation of derivatives designated as cash flow hedges |
|
|
(20,806 |
) |
|
|
7,299 |
|
|
|
(461 |
) |
|
|
(247 |
) |
|
|
(14,215 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
18,926 |
|
|
|
278,593 |
|
|
|
(23,165 |
) |
|
|
59,316 |
|
|
|
333,670 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (*) |
The increase(decrease) of financial asset valuation profit or loss at fair value through other comprehensive income are changes due to the period evaluation, and the reclassification adjustments amounting to 53,460 million Won and (10) million Won are due to disposal of equity securities at FVTOCI and equity method investments, respectively during the period. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the year ended December 31, 2025 |
|
|
|
|
|
|
|
|
|
Reclassification
adjustments |
|
|
|
|
|
Non-controlling interest adjustments |
|
|
|
|
Net gain (loss) on valuation of financial assets at FVTOCI |
|
|
60,438 |
|
|
|
(1,671,023 |
) |
|
|
(108,699 |
) |
|
|
459,475 |
|
|
|
153,159 |
|
|
|
(1,106,650 |
|
Net gain (loss) on credit risk fluctuation of financial liabilities designated to be measured at FVTPL |
|
|
1,348 |
|
|
|
(74 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,274 |
|
Changes in capital due to equity method |
|
|
(1,886 |
) |
|
|
(3,534 |
) |
|
|
— |
|
|
|
1,198 |
|
|
|
— |
|
|
|
(4,222 |
|
Gain (loss) on foreign currency translation of foreign operations |
|
|
523,780 |
|
|
|
(122,129 |
) |
|
|
— |
|
|
|
5,725 |
|
|
|
9,392 |
|
|
|
416,768 |
|
Gain (loss) on hedges of net investment in foreign operations |
|
|
(149,577 |
) |
|
|
30,325 |
|
|
|
— |
|
|
|
(8,006 |
) |
|
|
— |
|
|
|
(127,258 |
|
Remeasurement gain (loss) related to defined benefit plan |
|
|
(86,218 |
) |
|
|
(15,458 |
) |
|
|
— |
|
|
|
6,778 |
|
|
|
(2,093 |
) |
|
|
(96,991 |
|
Gain (loss) on valuation of cash flow hedge |
|
|
(14,215 |
) |
|
|
(320,171 |
) |
|
|
94,108 |
|
|
|
58,393 |
|
|
|
37,157 |
|
|
|
(144,728 |
|
Net financial gain(loss) on insurance contract assets(liabilities) |
|
|
— |
|
|
|
2,395,876 |
|
|
|
— |
|
|
|
(609,063 |
) |
|
|
(252,285 |
) |
|
|
1,534,528 |
|
Net financial gain(loss) on reinsurance contract assets(liabilities) |
|
|
— |
|
|
|
(20,157 |
) |
|
|
— |
|
|
|
4,525 |
|
|
|
5,170 |
|
|
|
(10,462 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
333,670 |
|
|
|
273,655 |
|
|
|
(14,591 |
) |
|
|
(80,975 |
) |
|
|
(49,500 |
) |
|
|
462,259 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (*) |
The increase (decrease) of financial asset valuation profit or loss at fair value through other comprehensive income are changes due to the period evaluation, and the reclassification adjustments amounting to 1,319 million Won are due to disposal of equity securities at FVTOCI during the period. |
Changes in treasury stocks for the years ended December 31, 2023, 2024 and 2025 are as follows (Unit: Shares and Korean Won in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares |
|
|
343,991 |
|
|
|
13,552,312 |
|
|
|
(10,468,806 |
) |
|
|
3,427,497 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
|
3,819 |
|
|
|
157,222 |
|
|
|
(121,693 |
) |
|
|
39,348 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares |
|
|
3,427,497 |
|
|
|
9,359,819 |
|
|
|
(9,705,040 |
) |
|
|
3,082,276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
|
39,348 |
|
|
|
136,712 |
|
|
|
(140,543 |
) |
|
|
35,517 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares |
|
|
3,082,276 |
|
|
|
8,515,377 |
|
|
|
(8,515,377 |
) |
|
|
3,082,276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
|
35,517 |
|
|
|
150,003 |
|
|
|
(150,003 |
) |
|
|
35,517 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|