Korea Joongang Daily
Korea JoongAng Daily

Woori to spend $6.9 billion on loans, rate cuts for tariff-impacted businesses

Woori Financial Group will invest $6.9 billion to support export firms impacted by U.S. tariffs, focusing on semiconductors and auto.

2025-04-09

FSS downgrades Woori's management rating over 73 billion won loan scandal

The Financial Supervisory Service downgraded Woori Financial Group one notch as the watchdog wrapped up its probe into illicit loans to people affiliated with former Chairman Son Tae-seung.

2025-03-17

FSS Gov. Lee says Woori chairman should finish term despite loan scandal

Korea's financial regulator urged Woori Financial's Chairman Yim Jong-yong to stabilize leadership.

2025-02-19

Woori strategizes, reaches out to investors over martial law market fallout

Woori Financial Group held a meeting and called on employees to remain vigilant over market instability, while assuring investors that the bank is capable of weathering any uncertainties.

2024-12-16

Court rejects arrest warrant for Woori's Sohn Tae-seung over loan allegations

A court has rejected an arrest warrant sought for Sohn Tae-seung, former chairperson of Woori Financial Group, on suspicions of extending inappropriate loans to his relatives, judicial officials said Wednesday.

2024-11-27

Prosecutors raid Woori HQ over ex-chairman loan scandal

Prosecutors raided the offices of the Woori Financial Group chief and Woori Bank CEO on Monday over a major loan scandal involving its former chairman.

2024-11-18

Woori Financial Group posts net profit of 904.6 billion won

Woori Financial Group posted a quarterly net profit of 904.6 billion won ($650.4 million), up 0.5 percent on year, according to its earnings report on Friday.

2024-10-25

Loan scandal crisis at Woori Financial Group endangers leadership, takeovers

A series of high-profile loan scandals at Korea's fourth-largest financial firm threatens to take down management all the way to the top, while acquisitions also face uncertainty.

2024-09-10

Mortgage frenzy leads banks to tighten loans ahead of rate cut

Banks are tightening their rules for issuing mortgages as loans surge ahead of anticipated rate cuts and stricter regulations this month.

2024-09-02

Woori to acquire Tongyang, ABL Life for $1.16 billion

Woori Financial Group will acquire controlling stakes in Tongyang Life Insurance and ABL Life Insurance for a total of 1.549 trillion won ($1.16 billion), the financial firm said Wednesday.

2024-08-28