Woori Financial Share Exchange to Proceed; SEC Filing Simplified

Woori Financial Group Inc. (WFG) filed an amendment to its Report of Foreign Private Issuer on Form 6-K/A, providing updates on its share exchange. The company confirmed that the share exchange will proceed as a small-scale share exchange, as the aggregate number of shares held by dissenting shareholders was 0.6% (4,396,004 shares), well below the 20% threshold that could have terminated the agreement or required a general meeting. Additionally, WFG will now file a Form CB with the SEC, relying on an exemption under Rule 802 of the U.S. Securities Act, instead of the previously contemplated Form F-4, due to U.S. holders owning less than 10% of Tongyang's shares.