Financials

  • Market Capitalization N/A
  • Employee 13 K
  • Founded 2001
  • CEO Tae-Seung Son
  • Website www.woorifg.com
  • Headquarter Korea, Republic Of
  • FIGI BBG00MYXJJ27
  • Industry Technology
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Woori Financial Group Inc American Depositary Shares (each repr

Woori Financial Group is a Seoul-based banking and financial services holdings company and is the largest bank in South Korea. Woori has had a short history as a financial institution. It was formed in 2001 from the forced merger of 4 predecessor commercial banks and an investment bank. The banks were taken over and recapitalised by the government because they had fallen below the Basel I Accord mandated eight percent capital adequacy ratio. The South Korean Government, through the Korean Deposit Insurance Corporation, remains the primary investor as a result. This came about as a part of the 1997 Asian financial crisis, which affected the operations of virtually all banks and financial firms in South Korea.

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