Woori Financial Group said Friday it has been privatized for the first time in 23 years.
Woori Bank said Tuesday that it opened a regional office in Budapest.
Eugene Private Equity and four other investors are acquiring 9.3 percent of Woori Financial Group.
Woori Financial Group was given an "AA" rating by Morgan Stanley Capital International (MSCI), the second highest of seven levels, for environmental social governance (ESG).
Financial Supervisory Service (FSS) Governor Jeong Eun-bo said his institution will focus on preventing financial disasters rather than handing out penalties after them during his first meeting with heads of major financial groups Wednesday.
Banking groups posted strong earnings through the third quarter by lending heavily to households despite the government’s admonition against overdoing credit to these borrowers.
The Financial Service Commission (FSC) on Friday announced that 18 investors including financial companies, private equity fund and overseas investors have applied for the acquisition of Woori Financial Group.
The Financial Supervisory Services (FSS) announced Friday that it will appeal a Seoul Administrative Court ruling absolving Woori Financial Group Chairman Son Tae-seung of selling high-risk funds without properly explaining their risks.
Households will only be able to borrow as much money as their annual income as financial authorities try to curb the country’s growing household debt.
Woori Financial Group Chairman Son Tae-seung has won an administrative case against the Financial Supervisory Service (FSS).