Woori Financial takeover of Dongyang Life

In late July 2026, Woori Financial Group secured approval for a full merger of its subsidiary Dongyang Life Insurance. Shareholders voted overwhelmingly, and the exchange ratio was set to convert each Dongyang Life share into 0.2521056 Woori Financial shares, with a higher purchase‑right price offered to dissenting minority shareholders. The transaction was cleared by the Financial Services Commission, and the share transfer was scheduled for August 11, after which Dongyang Life would be delisted from the KOSPI market and new Woori Financial shares would begin trading later in August.

A few days later, Dongyang Life reported an 11.5% rise in first‑half‑year 2024 net profit, driven by strong sales of newly launched whole‑life policies. Quarterly profit surged 168% and new‑business premiums rose 48.4% year‑on‑year. The insurer’s solvency ratio improved markedly. The report reiterated that Woori Financial’s board had approved the comprehensive share‑exchange plan, confirming the August 11 exchange and the upcoming listing of the parent’s new shares.