Government to Begin Stake Sale of Woori Financial in Second Half of This Year
[Asia Economy Reporter Hyunseok Yoo] The government has decided to start selling the shares of Woori Financial Group held by the Korea Deposit Insurance Corporation (KDIC) in the second half of this year.
The Financial Services Commission announced that the Public Fund Management Committee (PFMC) held the 160th joint meeting of the PFMC and the Sales Subcommittee on the 22nd and agreed to pursue this plan.
The committee members agreed to maintain the Woori Financial Group share sale roadmap established in June last year and to monitor market conditions so that the sale process can begin in the second half of the year if favorable selling conditions arise.
According to the roadmap established in June last year, the government plans to sell the shares of Woori Financial Group held by KDIC in about two to three rounds starting in the first half of this year through 2022.
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KDIC is the largest shareholder, holding 17.25% of Woori Financial Group shares.
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