Woori Finance eyes three overseas financial firms

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Woori Finance eyes three overseas financial firms

Woori Finance Holdings is mulling acquiring three overseas financial firms in a move that is expected to fuel the global expansion drive of Korea’s top banking group.

“There are two merger and acquisition [M&A] talks going on in Southeast Asia, with one proceeding smoothly,” Woori Financial Group Chairman Lee Pal-seung told reporters at a charity event.

Woori is also eyeing an M&A deal to secure a financial firm located “between Asia and Europe,” he added. Lee’s remarks came as local banking groups step up their efforts to generate new profit sources and boost their global presence in a bid to overcome high saturation in the domestic market.

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