Woori Financial Group said Friday it would take stern legal action against illegal money lenders that use the name “Woori.”
The nation’s largest financial group by assets last month filed criminal charges against an illegal lender that used Woori’s name and logo for violation of trademark laws to the Seoul Central Prosecutors’ Office.
The unregistered lender which had been running its business through a website set up under the name “Woori Financial” shut down the website after the financial group issued a warning over stealing its name.
“We had issued warnings in paper against a number of private moneylenders that exploited Woori Financial’s name to take advantage of low income earners,” a Woori Financial official said.
“These companies kept changing their names to continue their business. So we decided to sue and file criminal charges.”
Should similar cases occur, Woori Financial will take legal action in order to protect people from illegal money lending and maintain customer confidence, the official said.
By Kim So-hyun (sophie@heraldm.com)
koreaherald@heraldcorp.com
