Woori Fund Service Begins Office Management for Woori Asset Management... "Enhancing Group Synergy"

[Asia Economy Reporter Kim Hyo-jin] Woori Fund Service announced on the 27th that it will commence office management service for Woori Asset Management, which was incorporated as a subsidiary of Woori Financial Group in August last year. Woori Fund Service is a subsidiary of Woori Financial Group that provides office management services such as fund accounting and net asset value calculation for assets managed by clients.

Woori Fund Service has solidified its position in the industry by successfully completing system advancement work through data migration and customization reflecting asset management company demands over the past six months, achieving an office management trust balance of 110 trillion KRW.

Starting in September, it plans to begin delegated office management services for Woori Global Asset Management. Through synergy with asset management companies incorporated into the Woori Financial Group, it is explained that this will establish a foundation to aggressively pursue marketing for asset management companies by gaining recognition for its operational capability and technical skills in mid-to-large scale asset management projects.

Ko Young-bae, CEO of Woori Fund Service who took office on the 2nd, is emphasizing the system competitiveness and risk management of office management companies as fundamental infrastructure of the capital market, and is promoting company-wide efforts to minimize manual management tasks and build a verifiable system.

As part of this, it is preparing to file a patent for the development of the 'Operation Instruction Forwarding Service (tentative name)' to eliminate risks that may occur during net asset value calculation. This system automatically forwards the receipt and processing status of operation instructions received from asset management companies through a computerized system, preventing problems that could arise from manual processing in advance.

A representative of Woori Fund Service stated, "Based on enhanced sales competitiveness, we plan to promote global business prioritizing Asia in connection with Woori Financial Group companies, as well as projects for variable insurance net asset value calculation and IFRS (International Financial Reporting Standards) system construction for entry into the insurance industry. Woori Fund Service’s system, which has recorded zero net asset value errors for the past four years, is expected to gain even greater trust in the market."

This content was produced with the assistance of AI translation services.