Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (a subsidiary of Woori Financial Group Inc.) covers the month of November 2010. The report discloses a material change in the company's affiliate structure following the liquidation of a second-tier subsidiary.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, or margin data for Woori Finance Holdings. It only discloses the standalone financial status of the liquidated subsidiary, Woori F&I Ninth Asset Securitization Specialty Co., Ltd., as of September 30, 2010:
| Metric | Value (KRW) |
|---|---|
| Total Assets | 1,731,392,841 |
| Shareholders' Equity | 1,710,393,833 |
| Total Liabilities | 20,999,008 |
| Paid-in Capital | 171,300,000 |
Following the liquidation, Woori Finance Holdings reported a total of 53 remaining affiliates.
Material Changes
On November 30, 2010, Woori F&I Co., Ltd. filed a report with the Financial Supervisory Service of Korea regarding the liquidation of its wholly-owned subsidiary, Woori F&I Ninth Asset Securitization Specialty Co., Ltd. Consequently, this entity is no longer included as a second-tier subsidiary of Woori Finance Holdings.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies beyond the specific administrative event of the subsidiary's liquidation.
Investor Verification Points
- Confirm the impact of the liquidation on the consolidated financial statements of Woori Finance Holdings.
- Verify the regulatory approval status of the liquidation with the Financial Supervisory Service of Korea.
- Review the updated list of 53 remaining affiliates to assess ongoing exposure.