Deals
South Korea’s Government Aims to Sell Woori Bank by End of 2014
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South Korea’s government aims to sell Woori Finance Holdings Co.’s main banking unit by the end of 2014 after it failed three times to offload its 57 percent stake in the country’s biggest financial group by assets.
“We will try to designate a new owner of Woori Bank” by the end of next year, Financial Services Commission Chairman Shin Je Yoon told reporters on June 1, according to pool reports e-mailed from the state agency yesterday. Authorities are open to an option to sell Woori Finance’s units “in pieces,” he said.