Woori Financial Group Chairman Yim Jong-yong bought 5,000 company shares on Aug. 24 at 31,800 won each, raising his holdings to 15,000 shares. A further 56 executives, including the heads and officers of 16 subsidiaries, also purchased shares. The coordinated buying came shortly after Woori completed the process of making Tongyang Life Insurance a wholly owned subsidiary and announced plans to integrate Tongyang Life with ABL Life Insurance. Woori said the purchases demonstrate management's commitment to accountable management, share-price support and its Value-Up plan to address the stock's undervaluation. The group reported second-quarter net income attributable to controlling shareholders of 1.0046 trillion won, while Woori Bank executed 91% of its annual productive-finance lending target in the first half. Woori completed a 200 billion won treasury-share buyback and retirement in June and plans a further 150 billion won purchase and retirement in the second half. Yim held investor-relations meetings in Asia in June and plans to meet European investors later in September to explain the group's management direction and broaden its investor base.