Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) covers the month of September 2008, with a report date of September 10, 2008. The filing specifically addresses a change in the company's subsidiary structure.
Key Financial Metrics
The filing does not provide consolidated financial results for the parent company. It details the financial status of a newly established special-purpose subsidiary, Woori F&I Ninth Asset Securitization Specialty Co., Ltd.
| Metric | As of Sept 9, 2008 (Establishment) | Expected as of Sept 29, 2008 (Asset Transfer) |
|---|---|---|
| Total Assets (Millions KRW) | 100 | 5,653 |
| Total Liabilities (Millions KRW) | 0 | 3,940 |
| Total Shareholders' Equity (Millions KRW) | 100 | 1,713 |
| Paid-in Capital (Millions KRW) | 10 | 171 |
Material Changes
- New Subsidiary: Woori F&I Co., Ltd. added Woori F&I Ninth Asset Securitization Specialty Co., Ltd. as a wholly-owned subsidiary on September 9, 2008.
- Corporate Structure: The total number of subsidiaries under Woori Finance Holdings Co., Ltd. increased to 39 following this addition.
- Operational Purpose: The new entity is a special-purpose company established under the Asset Securitization Act to conduct asset securitization operations.
Outlook, Risks, and Management Commentary
The filing includes a standard forward-looking statement disclaimer. Management notes that statements regarding beliefs, expectations, and future performance are based on current plans and estimates. The company explicitly states that actual results may differ materially due to known and unknown risks and uncertainties. No specific guidance or management commentary regarding the broader group's financial outlook is provided in this document.
Investor Verification Checklist
- Verify the regulatory approval status of the new asset securitization subsidiary under the Asset Securitization Act.
- Confirm the actual asset transfer registration date and final financial figures for the new subsidiary against the September 29, 2008 projections.
- Review the consolidated financial statements of Woori Finance Holdings Co., Ltd. to assess the materiality of this new subsidiary relative to the group's total assets.
- Check for any subsequent filings regarding the performance or dissolution of this special-purpose vehicle.