Distressed Debt Investment Firm 'Woori Financial F&I' Launched... Choi Dong-su, Woori Financial Vice President, Appointed CEO
[Asia Economy Reporter Song Seung-seop] Woori Financial Group announced on the 9th that Woori Financial F&I, a company specializing in non-performing loan (NPL) investments, has officially launched.
Woori Financial F&I is the group's 14th subsidiary, with the holding company owning 100% of the shares. The CEO is Choi Dong-su, Vice President of Woori Financial Group, who was recommended by the subsidiary CEO candidate recommendation committee in December last year. The established capital is 200 billion KRW.
Woori Financial Group plans to support the early market settlement of Woori Financial F&I based on its experience operating the former Woori F&I as a subsidiary for 14 years (2001?2014) and the current know-how related to NPL investments of Woori Securities Finance.
A Woori Financial Group official stated, “The establishment of Woori Financial F&I was a strategic decision anticipating the gradual expansion of the NPL market size after COVID-19,” and added, “We plan to continuously enhance corporate value by creating synergies across various related subsidiaries such as Woori Bank, Woori Securities Finance, Woori Financial Capital, and Woori Asset Trust.”
He continued, “The launch of Woori Financial F&I is part of the shareholder value enhancement strategy through steady expansion of the non-bank sector since the holding company was established in 2019,” and explained, “The momentum for stock price increase created by the full privatization last year is expected to continue steadily into the new year.”
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Choi Dong-su, CEO of Woori Financial F&I, expressed his ambition, saying, “We plan to actively pursue an aggressive investment strategy from the beginning to change the market landscape as soon as possible,” and added, “We will diversify revenue sources through future corporate restructuring projects and contribute not only to the early normalization of non-performing assets of domestic financial companies but also to the rehabilitation of distressed companies.”
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