Woori Financial Group

Infobox_Company
company_name = Woori Financial Group
company_
company_type = Public company (kse|053000 nyse|WF)
company_slogan =
foundation = 2001
location = Seoul, Korea
key_people = Lee Pal Seung, CEO
num_employees =
industry = Financial
products = Financial Services
homepage = [http://www.woorifg.com/pr/eng/index.jsp www.woorifg.com]
revenue = Infobox Korean name|tablewidth=275|title=Korean name
hangul=우리금융그룹|hanja=우리金融그룹|rr=Uri Geumyung Geurup|mr=Uri Kŭmyung Kŭrup

Woori Financial Group is a Seoul-based banking and financial services holdings company and is the second 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 (Hanvit, Peace, Kwangju and Kyongnam Banks and Hanaro Investment Banking and their subsidiaries). 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.

Business

*Woori Bank
*Woori Investment & Securities
*Kyongnam Bank
*Kwangju Bank

ee also

*Economy of South Korea
*List of South Korean companies
*Woori Bank

External links

* [http://www.woorifg.com/pr/eng/index.jsp Woori Financial Group Homepage]
* [http://www.wooriamericabank.com/eng/e_default.htm Woori America Bank homepage in English]