Woori Financial Group Signs Acquisition Agreement with Daol Investment

Share Purchase Agreement Signed for 52% Ownership Stake

15th Subsidiary Scheduled for Inclusion in March

Woori Financial Group announced on the 27th that it has signed a Stock Purchase Agreement (SPA) to acquire a 52% controlling stake in Daol Investment.

Woori Financial Group plans to complete the transaction on the scheduled date of Daol Investment's regular shareholders' meeting on the 23rd of next month and incorporate it as its 15th subsidiary.

Daol Investment is a leading company rooted in Korea's first-generation venture capital firm, Korea Technology Banking (KTB Network), and as of the end of last year, it operates funds totaling approximately 1.4 trillion KRW, making it a large-scale venture capital company.

With this acquisition, Woori Financial Group will strengthen its non-bank portfolio and take a step forward as a comprehensive financial group. In particular, it plans to play a key role in the corporate finance value chain that supports the growth of venture companies through investment in innovative enterprises.

A Woori Financial Group official stated, "Since manpower management is the core of PMI (Post-Merger Integration) due to the nature of venture capital where people are the most important," adding, "We plan to guarantee Daol Investment's current systems such as management, organizational operations, investment decision-making, and performance compensation as much as possible, and minimize dispatched personnel to ensure autonomous management."

He continued, "Regarding the post-acquisition name change, we will respect the internal opinions of Daol Investment, and we plan to actively support synergy creation with Woori Bank and Woori PE Asset Management, aiming to leap to the top position in the industry within five years."

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