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Woori Financial Group chairman Lee Soon-woo urged its executives and employees’ full support for the group’s privatization plan.
Chairman Lee made the plea during a strategic conference in Ilsan, Gyeonggi Province, on Saturday, attended by about 2,500 employees of Woori Financial Group and its subsidiary firms including Woori Bank.
The chairman called for a “successful privatization” of the group through fair market competition, group officials said.
The nation’s largest financial holding company with a combined 352 trillion won in assets has failed to find an owner for the past 10 years. To boost chances of a sale, the current government is promoting a “split sale” of its 14 affiliates into three groups ― regional banks, brokerage units and Woori Bank.
The Financial Services Commission plans to complete the sale process early next year.
With concerns over the group’s withering profits and growing risks amid an economic slowdown, chairman Lee asked officials to adhere to basics in finance and prioritize securing customers’ trust.
Lee, former CEO of Woori Bank, took the helm of Woori Financial Group in May.
By Chung Joo-won (joowonc@heraldcorp.com)
Chairman Lee made the plea during a strategic conference in Ilsan, Gyeonggi Province, on Saturday, attended by about 2,500 employees of Woori Financial Group and its subsidiary firms including Woori Bank.
The chairman called for a “successful privatization” of the group through fair market competition, group officials said.
The nation’s largest financial holding company with a combined 352 trillion won in assets has failed to find an owner for the past 10 years. To boost chances of a sale, the current government is promoting a “split sale” of its 14 affiliates into three groups ― regional banks, brokerage units and Woori Bank.
The Financial Services Commission plans to complete the sale process early next year.
With concerns over the group’s withering profits and growing risks amid an economic slowdown, chairman Lee asked officials to adhere to basics in finance and prioritize securing customers’ trust.
Lee, former CEO of Woori Bank, took the helm of Woori Financial Group in May.
By Chung Joo-won (joowonc@heraldcorp.com)
