In a concerted effort to protect the next generation from the growing threat of illegal gambling, Woori Bank CEO Chung Jin-wan has officially joined a high-profile relay campaign aimed at eradicating youth gambling. The initiative, organized by the Seoul Metropolitan Police Agency, seeks to raise social awareness and alert the public to the severe dangers associated with illegal gambling among teenagers.
The youth gambling eradication relay campaign began in 2024, utilizing a nomination system to expand its reach across various institutional leaders. CEO Chung Jin-wan entered the campaign after being recommended by Lee Ho-sung, the CEO of Hana Bank. Continuing the cycle of advocacy, Chung has nominated Jin Seong-won, the President of Woori Card, as the next participant to commit to this cause.
Beyond the symbolic nature of the relay, Woori Bank is implementing concrete technical measures to disrupt the financial pipelines that enable underage gambling. The bank is currently utilizing its “Teen Teen” service—a dedicated offering for youth—to analyze transaction patterns and identify suspicious activity. When illegal gambling is suspected, the bank employs a preemptive response system that includes issuing warning notifications and blocking deposits to suspected accounts.
Addressing the systemic nature of the problem, CEO Chung Jin-wan emphasized that youth gambling is not merely an individual struggle but a societal challenge. He stated, “Youth illegal gambling is a task that our entire society must contemplate and solve together,” adding that the bank is committed to creating a “safe financial fence” to ensure future generations do not fall prey to the temptation of gambling.
Integrating Financial Education and Consumer Protection
Woori Bank is pairing its technical safeguards with a broader strategy of financial literacy. The institution is expanding youth financial education programs to foster a healthy financial culture and provide practical prevention tools for students. By combining education with active monitoring, the bank aims to address both the demand for gambling and the means of accessing it.
This commitment to safety extends to the bank’s broader organizational structure. In a related move toward systemic protection, Woori Bank recently appointed 10 “Financial Consumer Protection Ambassadors” to prioritize consumer safety over aggressive sales targets. During an appointment ceremony on October 27, 2025, CEO Chung Jin-wan personally delivered appointment letters and participated in a resolution signing ceremony to reinforce the principle that consumer protection must come before business operations at the Woori Bank headquarters in Jung-gu, Seoul.
The Role of the Financial Consumer Protection Ambassadors
The newly appointed ambassadors are undergoing specialized training to better protect vulnerable populations. Their curriculum includes the background of the Financial Consumer Protection Act, current policy trends, and specific support systems for the financially vulnerable. To ensure these employees remain at the forefront of industry standards, the training incorporates AI application cases and the latest dispute and protection precedents.
The program is designed to be multidisciplinary, featuring lectures and networking sessions with professors from major universities, lawyers, and officials from the Financial Supervisory Service and the police. These ambassadors will also participate in field-based activities, such as seminars for system improvement held in collaboration with customers.
Strategic Safeguards for Vulnerable Youth
The implementation of the “Teen Teen” monitoring system represents a shift toward proactive intervention in the banking sector. By analyzing the specific habits of youth accounts, Woori Bank can identify red flags that typically precede gambling addiction, such as frequent, irregular transfers to unknown accounts or patterns consistent with illegal betting platforms.
The “safe financial fence” mentioned by CEO Chung refers to a multi-layered approach:
- Technical Blockage: Using real-time analysis to block deposits to accounts flagged for illegal gambling.
- Direct Alerts: Sending warnings to users and potentially their guardians when suspicious activity is detected.
- Educational Outreach: Providing the knowledge necessary for youth to recognize the signs of gambling traps.
- Institutional Partnership: Working directly with the Seoul Metropolitan Police Agency to align banking safeguards with law enforcement efforts.
This comprehensive strategy acknowledges that while technology can block a transaction, education is required to change the behavior that leads to the transaction in the first place.
Key Takeaways: Woori Bank’s Anti-Gambling Initiative
- Campaign Participation: CEO Chung Jin-wan joined the Seoul Metropolitan Police Agency’s relay campaign, nominated by Hana Bank CEO Lee Ho-sung.
- Technical Intervention: The “Teen Teen” service is used to analyze transactions and block deposits to suspected illegal gambling accounts.
- Social Responsibility: The bank views youth gambling as a societal issue requiring a collective solution.
- Broader Protection: The bank has appointed 10 Financial Consumer Protection Ambassadors to ensure consumer safety is prioritized over sales.
- Next Step: The campaign continues with the nomination of Woori Card President Jin Seong-won.
The next confirmed step in this initiative is the participation of Woori Card President Jin Seong-won, who has been nominated by CEO Chung Jin-wan to continue the relay for youth gambling eradication. We invite our readers to share their thoughts on the role of financial institutions in combating youth crime in the comments below.
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