Woori General Finance and Hanguk Poseu Securities Merger
Woori Investment & Securities officially launches on the 1st.
Woori Investment & Securities, formed by the merger of Korea Post Securities and Woori Comprehensive Financial, held its inauguration ceremony at the Yeouido TP Tower on the morning of the same day, taking its first step as a mid-sized securities firm ranked around 18th in the industry. Its equity capital amounts to approximately 1.1 trillion KRW.
Woori Financial Group is re-entering the securities business 10 years after selling its securities firm (the former Woori Investment & Securities) to NongHyup Financial Group in 2014.
The CEO of Woori Investment & Securities will be Nam Ki-cheon, president of Woori Comprehensive Financial. The organization will be centered around four business divisions: ▲Comprehensive Finance ▲S&T (Sales and Trading) ▲Retail ▲Risk Management. Moving away from Woori Comprehensive Financial’s existing business structure focused on promissory notes and real estate, the company plans to complete a securities firm’s core business structure including IB, S&T, and Retail, laying the foundation for growth into a large securities firm.
Woori Investment & Securities aims to enter the top 10 in the industry within five years and become a super-large IB (Investment Bank) within ten years. Once it becomes a super-large IB, the securities firm will be able to engage in the promissory note issuance business, raising funds by issuing notes up to twice its equity capital.
A representative of Woori Investment & Securities stated, "We plan to establish a differentiated strategy as a latecomer in the securities industry by creating virtuous cycles among businesses, strengthening the digital foundation, and leveraging synergies within Woori Financial Group," adding, "We will expand the investment banking (IB) sector and increase the supply of various financial products."
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