The South Korean government has confirmed that it has delayed the sale announcement for Woori Finance, the listed South Korean financial firm, until after mid-July, E-Daily reported on Thursday. The South Korean local newspaper cited Chin Dong-soo, president of the Financial Services Commission, who said in a press meeting that the state-run financial firm...
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The soon to be appointed new head of KB Financial, has reignited speculation on the government’s plan to create a Korean ‘mega-bank’, at a time when other global leaders are seeking to limit future “too big to fail” scenarios. Talks of a Korean mega-bank, able to compete with global giants, have been going on...
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The South Korean government is reportedly planning to identify which subsidiaries it will sell separately from its stake in Woori Finance and which will be included in the privatization. A report carried by Edaily cited an unspecified insider at the state-run Financial Services Commission (FSC) as saying the government may sell subsidiaries, such as Woori Investment &...
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The South Korean government is planning to begin the process to privatize state-run Korea Development Bank after it sets up guidelines to privatize Woori Finance, reported Maeil Business. The unsourced report claimed that the government has been preparing to divest its stake in Woori Finance, the listed South Korean financial holding company since earlier...
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The South Korean government is considering splitting its stake in listed Woori Finance into small pieces in order to sell them separately, reported Yonhap News. The report cited a Woori insider with knowledge of the situation as saying that it would be much more desirable for Woori Finance to be privatized via a merger...
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Korea Deposit Insurance (KDIC) has sold a 9% stake in Woori Finance, the listed South Korean financial firm, to institutional investors via block sale yesterday, reported Yonhap News. The report cited a person close to the matter as saying the state-run financial service firm initially planned to sell a 7% stake but it finally sold...
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The South Korean government may delay its sale of a 7-8% stake in Woori Finance until after this May, due to the company’s weak share price, reported the Seoul Economic Daily. The report cited an unspecified insider at Korea Deposit Insurance who has knowledge of the situation as saying it is hard to determine...
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The Abu Dhabi Investment Company (ADIC) is rumored to have  shown interest in buying the South Korean government’s holding in Woori Finance, according to the Seoul Economic Daily. The United Arab Emirates sovereign wealth fund is believed to be interested in buying anything between a minority holding to a controlling stake in Woori, the...
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The South Korean government plans to raise KRW 1.27tn (USD 1.11bn) by selling part of its stake in the Industrial Bank of Korea (IBK), reported Edaily. The unsourced report claimed that the government has drafted the amount as part of non-tax income this year. The government holds a 65.13% stake in IBK, the listed South...
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The privatization of Woori Finance and Jeju Bank – the listed South Korean financial companies – by the Korea Deposit Insurance Corp faces hurdles because of a drop in the share price and lower demand, the Maeil Business reported. The news report cited an unidentified insider at the state-run KDIC as saying that that...
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