SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2020

Commission File Number: 001-31811

Woori Financial Group Inc.

(Translation of registrant’s name into English)

51, Sogong-ro, Jung-gu, Seoul, 04632, Korea

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Woori Financial Group’s Preliminary Financial Performance Figures

for the Third Quarter of 2020

The preliminary financial performance figures for Woori Financial Group for the nine-month period ended on September 30, 2020, on a consolidated basis, are as follows.

(Units: millions of KRW, %)

 

Item				3Q 2020				2Q 2020				% Change Increase (Decrease)				3Q 2019				% Change Increase (Decrease)
Revenue*		Specified Quarter			4,278,735				3,464,225				23.51				7,307,816				-41.45
		Cumulative Basis			18,966,421				14,687,686				—				19,419,599				-2.33
Operating Income		Specified Quarter			674,906				399,260				69.04				659,291				2.37
		Cumulative Basis			1,847,504				1,172,598				—				2,369,703				-22.04
Income before		Specified Quarter			675,586				281,236				140.22				670,270				0.79
Income Tax Expense		Cumulative Basis			1,709,435				1,033,849				—				2,398,352				-28.72
Net Income		Specified Quarter			521,321				216,262				141.06				534,108				-2.39
		Cumulative Basis			1,295,354				774,033				—				1,806,071				-28.28
Profit to the Equity Holders of the Parent Entity		Specified Quarter			479,806				142,348				237.07				486,009				-1.28
		Cumulative Basis			1,140,370				660,564				—				1,665,697				-31.54

The above figures are prepared in accordance with Korean International Financial Reporting Standards. The figures above are subject to adjustment as they are preliminary and have not been reviewed by our independent auditors.

 

*	Represents the sum of interest income, fee and commission income, dividend income, gain on financial assets and other operating income (excluding non-operating income).

Woori Bank’s Preliminary Financial Performance Figures

for the Third Quarter of 2020

The preliminary financial performance figures for Woori Bank, a wholly-owned subsidiary of Woori Financial Group, for the nine-month period ended on September 30, 2020, on a consolidated basis, are as follows.

(Units: millions of KRW, %)

 

Item				3Q 2020				2Q 2020				% Change Increase (Decrease)				3Q 2019				% Change Increase (Decrease)
Revenue*		Specified Quarter			3,924,278				3,060,626				28.22				6,927,598				-43.35
		Cumulative Basis			17,760,315				13,836,037				—				18,330,186				-3.11
Operating Income		Specified Quarter			621,882				338,993				83.45				594,947				4.53
		Cumulative Basis			1,659,512				1,037,630				—				2,192,247				-24.30
Income before		Specified Quarter			625,610				223,061				180.47				797,432				-21.55
Income Tax Expense		Cumulative Basis			1,529,526				903,916				—				2,345,239				-34.78
Net Income		Specified Quarter			483,719				176,417				174.19				65,827				634.83
		Cumulative Basis			1,165,792				682,073				—				1,312,214				-11.16
Profit to the Equity Holders of the Parent Entity		Specified Quarter			480,705				174,367				175.69				60,059				700.39
		Cumulative Basis			1,158,642				677,937				—				1,292,462				-10.35

The above figures are prepared in accordance with Korean International Financial Reporting Standards. The figures above are subject to adjustment as they are preliminary and have not been reviewed by our independent auditors.

 

*	Represents the sum of interest income, fee and commission income, dividend income, gain on financial assets and other operating income (excluding non-operating income).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

				Woori Financial Group Inc.
				(Registrant)
Date: October 26, 2020				By:		/s/ Kyong-Hoon Park
				(Signature)
				Name:		Kyong-Hoon Park
				Title:		Deputy President