Woori Bank Signs MOU with Alternative Asset Managers to "Strengthen Custody Service Portfolio"

Song Hyun-joo, Head of Asset Management Group at Woori Bank (center), is taking a commemorative photo after the business agreement ceremony with Park Jong-pil, CEO of Pacific Investment Management (left), and Hong Chang-min, CEO of Pacific Asset Management. Photo by Woori Bank

Woori Bank announced on the 29th that it signed a business agreement with Pacific Asset Management and Investment Management on the 28th, agreeing to give priority to discussions on the custody services for alternative asset funds managed by these firms.

Pacific Asset Management and Investment Management are specialized alternative asset management companies with combined assets under management totaling approximately 7.5 trillion KRW as of the end of last year. Woori Bank explained that through this agreement, it expects to secure stable demand for custody assets and strengthen its portfolio.

A Woori Bank official stated, “This agreement allows us to preemptively secure custody demand for high-quality projects,” adding, “We will lead the development of the capital market together with both companies through more stable custody asset management in the future.”

Meanwhile, Woori Bank has an Asset Custody Department under its Asset Management Group, which is responsible for the custody and management of fund and REIT assets, and has been steadily increasing the scale of domestic and overseas fund custody assets managed by pension funds and asset management companies.

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