Woori Financial Group Amends Comprehensive Stock Exchange Registration Statement for Dongyang Life Full Subsidiary, Reflecting Q1 2026 Financials
This amended registration statement attaches Dongyang Life's reviewed Q1 2026 consolidated financial statements to Woori Financial Group's comprehensive stock exchange securities report for making Dongyang Life a wholly-owned subsidiary.
Dongyang Life's Q1 2026 consolidated net profit was 25 billion KRW, down 45.9% from 46.2 billion KRW in the same period last year. Operating profit was 31.1 billion KRW, insurance profit 22.4 billion KRW, and investment profit 8.7 billion KRW. Total assets stood at 344.5 trillion KRW, and equity at 18.4 trillion KRW.
Equity increased by 295.4 billion KRW from year-end due to higher other comprehensive income from rising interest rates. The insurance contract margin CSM remained at 2.51 trillion KRW, supporting future earnings.
After the reporting period, on April 29, 2026, a stock exchange agreement was signed between Woori Financial Group and Dongyang Life, with shares to be delivered on August 11, 2026. The exchange ratio is 0.2521056 Dongyang Life shares per Woori Financial share. Existing Woori Financial shareholders will see a dilution of approximately 1.19%.
Additionally, on April 24, 2026, Dongyang Life's board resolved to cancel all 5,296,004 treasury shares, enhancing shareholder value.
Dongyang Life is under investigation by the Financial Services Commission for alleged violations of the Credit Information Act, and has contingent liabilities from 109 pending lawsuits amounting to 91 billion KRW.
[AI Summary]This amendment provides the latest financial status of Dongyang Life ahead of the stock exchange closing. The quarterly results show earnings slowdown, but the CSM-based future earnings capacity and share cancellation are positive. However, the 1.19% dilution and regulatory investigation present mixed risks, warranting a neutral outlook.
KOSPI Filing Information
[Correction of Attachment] Securities Registration Statement (Comprehensive Exchange and Transfer of Shares)