Woori Bank launches monthlong tax-saving product training for all staff

Woori Bank said Wednesday it is launching a monthlong practical training program on tax-saving products for all employees.

The training is designed to sharpen staff consulting skills and enable them to offer customers more professional wealth management advice.

Wealth management experts from the bank's headquarters will visit branches in person to share know-how and advisory experience on making effective use of tax-advantaged accounts. The curriculum focuses on skills staff can apply immediately on the floor.

Customer interest in wealth management through tax-advantaged accounts — including individual savings accounts (ISAs), pension savings funds and individual retirement pension (IRP) accounts — has grown sharply in recent months, raising demand for deeper consulting expertise among bank employees.

The training will cover a broad range of topics directly applicable to customer consultations: tax-efficient portfolio proposals, the features and tax benefits of key products such as ISAs, IRPs and pension savings funds, and recommended product combinations tailored to different customer circumstances.

Woori Bank expects the program to help staff propose more sophisticated, personalized tax strategies suited to each customer's financial situation and investment goals, and to deliver differentiated wealth management service.

According to Korea Federation of Banks disclosures, Woori Bank posted the highest non-principal-guaranteed defined-contribution return rate among the four major commercial banks in the second quarter of this year, at 57.1 percent.

"Tax saving is no longer a concern only for some customers — it has become an important element of managing assets efficiently," said Kim Seon, head of Woori Bank's WM Group. "We will continue investing in education so that our staff fully understand the latest regulations and products and can provide personalized wealth management services suited to each customer's life stage and investment goals."