Jin Dong-su, FSC

Woori Finance could be merged with another financial services firm before the government divests its stake in it, Maeil Business reported here (Korean).

The report cited Jin Dong-su, the head of South Korea’s Financial Services Commission, who said such a move would make it easier to sell the Woori Finance stake, and help increase the value of the firm.

It was earlier reported that the South Korean government, which holds a 66% stake in Woori Finance through Korea Deposit Insurance Corp., was assessing selling the stake.

For more information see previous posts – ‘In the news: Woori, Hynix, and Daewoo two‘ and ‘New Year Sales‘.

(Source: Maeil Business Newspaper)