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WOORI BANK

Jan 20, 2020 351

HISTORY:

Woori Bank (the Bank) is a Korean-based company mainly engaged in the provision of commercial banking services and consumer banking services. The Bank mainly offers deposits, loans, funds, foreign exchange, guarantee of payment, investment in securities, investment in trusts and credit card services. Your deposit service includes regular savings, welfare deposits, current deposits and others. Your loan service includes invoice discount, ordinary loans, deposit-guaranteed and others. The Bank also offers Internet banking services, insurance services and others.

Woori Bank  is a bank based in Seoul, South Korea and Woori Bank is a subsidiary of the parent company Woori Financial Group. The bank was founded in 1899, originally named Daehan Cheon-il Bank, renamed Bank Joseon Sangup in 1911, then Commercial Bank of Korea in 1950. After the Asian financial crisis of 1997, merged with the former Hanil Bank and Bank of Peace to become the Hanvit Bank. Woori Bank adopted its current name in 2002.

Its branch of Jongno is located in the Gwangtonggwan, the oldest continuous working bank building in Korea.It was registered as one of the city's protected monuments on March 5, 2001.In 2004, Woori Bank opened its branch of Gaeseong Industrial Complex, in Gaeseong, North Korea.In March 2010 it became the first foreign bank to issue Shanghai Tourism Cards in mainland China.Woori Bank has operations in Bangladesh and Indonesia. On March 14, 2012, its Indonesian subsidiary, Bank Woori Indonesia, announced a plan to merge with a local bank, Banco Saudara.

In April 2012, Woori Bank opened its first branch in India in Chennai.Woori Bank is the first South Korean bank to support Internet browsers other than Internet Explorer for online banking in Korea. Its foreign divisions, such as China-based, still require IE.

 

CHAIRMAN:  Kwang Goo Lee