Bank Woori Saudara Indonesia President Director Resigns

Sudden Departure Announcement

PT Bank Woori Saudara Indonesia 1906 Tbk. (SDRA) has announced the resignation of its President Director, Kim Eungchul, effective January 7, 2026. The announcement was made through an information disclosure to the Indonesia Stock Exchange (IDX) on January 8, 2026. The company has received a formal letter of resignation from Kim Eungchul, as stated in the official disclosure.

Corporate Governance Implications

The bank will convene an Extraordinary General Meeting of Shareholders (EGMS) on January 30, 2026, as required by prevailing regulations, to formally address Kim Eungchul's resignation request. This meeting will determine the official status of his leadership position at the bank.

Executive Background

Kim Eungchul brought significant experience from Woori Bank in Korea to his role as President Director of Bank Woori Saudara Indonesia. His background includes serving as CEO of Woori Investment Bank (2023-2024) and Deputy Executive Vice President of the International Trade Business Group at Woori Bank (2021-2023). Previous positions included Deputy Executive Vice President of the Global Business Group (2020-2021) and Senior General Manager at Corporate Banking Headquarters I in Korea (2019-2020).

Impact and Next Steps

The sudden departure of a top executive like Kim Eungchul could potentially impact the bank's strategic direction and operations. The EGMS on January 30, 2026 will be crucial in determining the bank's next steps regarding leadership succession and corporate governance.