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KB, Nonghyup bid for Woori's brokerage unit

SEOUL, Dec. 16 (Yonhap) -- Woori Finance Holdings Co. on Monday closed the bidding for its brokerage arm and three other units, as the government goes full steam ahead with privatizing South Korea's largest banking firm. KB Financial Group Inc., the second-largest banking firm here, and state-run NongHyup Financial Inc. had placed their bids for Woori Investment

Woori to close bidding for brokerage unit

SEOUL, Dec. 16 (Yonhap) -- Woori Finance Holdings Co. will close Monday the bidding of its four units including the brokerage arm, as the government has been going full steam ahead to privatize South Korea's largest banking firm, sources said. The state-run banking group is expected to receive final bids later in the day for Woori Investment

KB, Daishin picked as preferred bidders for Woori units

SEOUL, Dec. 6 (Yonhap) -- KB Financial Group Inc. was chosen Friday as a preferred bidder for the leasing unit of Woori Finance Holdings Co., bank sources said Friday, as the government pushes to end the long-pending privatization of South Korea's largest banking firm. The board of Woori Finance decided to accept KB Financial's bid for Woori Financial Co., which mainly engages in auto leasing, at a board meeting held earlier, the company said in a press release.

KB Financial places bid for two Woori units

SEOUL, Dec. 2 (Yonhap) -- KB Financial Group Inc. made its bid Monday to buy two affiliates of Woori Finance Holdings Co., as the government moves a step closer to privatizing the state-run banking group, officials said. The second-largest South Korean banking firm submitted its bid to take over Woori F

Woori Finance Q3 net tumbles 83.6 pct

SEOUL, Nov. 1 (Yonhap) -- Woori Finance Holdings Co., South Korea's top banking group, said Friday that its third-quarter earnings tumbled 83.6 percent from a year earlier on squeezed profit margin and an increase in loan-loss reserves. Net profit amounted to 86.4 billion won (US$81.5 million) in the July-September period, compared with 525.5 billion won the previous year, the group said in a regulatory filing. From three months earlier, net income declined 41.7 percent.

KB Financial, NongHyup bid for Woori's brokerage unit

SEOUL, Oct. 21 (Yonhap) -- Two major South Korean banking groups made their bids on Monday to buy six affiliates of Woori Finance Holdings Co. including its brokerage arm, as the government pushes the sale process into the second phase of privatizing the largest banking group in the country, regulatory and bank sources said. KB Financial Group Inc., the second-largest banking firm here, submitted a letter of intent for all six units: Woori Investment

Woori Finance to end preliminary bidding for brokerage unit

SEOUL, Oct. 21 (Yonhap) -- Woori Finance Holdings Co. is expected to close the preliminary bidding on Monday for six of its units, including its brokerage arm, in its second phase of the sale process to privatize the largest banking group in Korea, regulatory and bank sources said. The state-run banking firm put up a public notice on Aug. 16 to sell Woori Investment

10 bidders picked for shortlist for Woori's 2 smaller bank units

SEOUL, Oct. 18 (Yonhap) -- Ten financial firms including Shinhan Financial Group made the shortlist to acquire two smaller banks of state-invested Woori Finance Holdings Co., the financial watchdog said Friday. The Financial Services Commission (FSC) said that the committee on overseeing sales of public assets selected 10 bidders out of 11 candidates for the group's two smaller units -- Kwangju and Kyongnam -- after reviewing their proposals.

FSC will deal with Tong Yang Group 'by the book': chief

SEOUL, Oct. 17 (Yonhap) -- The financial regulator will ensure that the probe into the debt-saddled Tong Yang Group is done by principle to bring those responsible to account and minimize investor losses, its chief said Thursday, amid growing criticism that the regulator failed to prevent the crisis from occurring. "We won't allow any tolerance or hesitation whatsoever in executing the probe on Tong Yang Group. Everything will be done as a matter of principle," Shin Je-yoon, the chairman of the Financial Services Commission (FSC), said before lawmakers at a parliamentary audit.

FSC will deal with Tong Yang Group 'by the book': chief

SEOUL, Oct. 17 (Yonhap) -- The financial regulator will ensure that the probe into the debt-saddled Tong Yang Group is done by principle to bring those responsible to account and minimize investor losses, its chief said Thursday, amid growing criticism that the regulator failed to prevent the crisis from occurring. "We won't allow any tolerance or hesitation whatsoever in executing the probe on Tong Yang Group. Everything will be done as a matter of principle," Shin Je-yoon, the chairman of the Financial Services Commission (FSC), said before lawmakers at a parliamentary audit.
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