Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) covers the month of June 2008, specifically dated June 27, 2008. The report details the addition of a new second-tier subsidiary, Woori SB Tenth Asset Securitization Specialty Co., Ltd., to the group's structure.
Key Financial Metrics
The filing provides financial data solely for the newly acquired subsidiary, Woori SB Tenth Asset Securitization Specialty Co., Ltd., as of June 27, 2008. Consolidated group financials are not included in this specific report.
| Metric | Value (KRW) |
|---|---|
| Total Assets | 161,586,000,000 |
| Total Liabilities | 120,515,000,000 |
| Shareholders' Equity | 41,071,000,000 |
| Paid-in Capital | 4,107,100,000 |
The subsidiary operates under the Asset Securitization Law, focusing on the purchase, management, investment, and disposition of bonds and other instruments.
Material Changes
On June 27, 2008, Woori F&I, a wholly owned subsidiary of Woori Finance Holdings, acquired a controlling stake in Woori SB Tenth Asset Securitization Specialty Co., Ltd. This transaction increased the total number of subsidiaries within the Woori Finance Holdings group to 35.
- Ownership Structure: Woori F&I holds 50% plus one share (410,711 shares), while Peninsula Yugen Sekinin Jigyo Kumiai holds 50% minus one share (410,709 shares).
- Capital Increase: The subsidiary underwent a capital increase of KRW 4,097 million on the acquisition date, involving 819,420 issued shares at an issue price of KRW 50,000 per share.
Guidance, Outlook, and Risks
The filing does not contain management commentary, future guidance, or specific risk factors beyond the standard operational scope of an asset securitization vehicle. The document is a factual report of a corporate structural change and does not discuss unusual items or contingencies affecting the broader group.
Investor Verification Checklist
- Verify the impact of the new subsidiary's KRW 161.6 billion in assets on the group's consolidated balance sheet in the next quarterly or annual report.
- Confirm the ongoing relationship and potential conflicts of interest with the minority shareholder, Peninsula Yugen Sekinin Jigyo Kumiai.
- Review subsequent filings to assess the performance of the asset securitization activities relative to the group's overall strategy.
- Note that this filing does not provide consolidated revenue, profit, or cash flow data for Woori Financial Group Inc.