Woori to re-enter brokerage business with acquisition of Korea Foss Securities koreaherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreaherald.com Daily Mail and Mail on Sunday newspapers.
Woori Financial Group has officially declared its bid to acquire a brokerage, a move to fortify its non-banking sector and offset a significant dent in profit last year, market watchers said Wednesday.
Woori Financial Group is actively considering the acquisition of local online brokerage firm Korea Foss Securities, in a move to add a missing puzzle piece a securities arm as a leading banking giant. "We are reviewing all potential companies (for acquisition) to make inroads into the (securities) industry, with the brokerage mentioned among them," the group's Chief Financial Operator Lee Sung-wo.
Woori Financial Group Chairman Yim Jong-yong is visiting the group s major affiliates to encourage employees in the wake of the group s disappointing performance during the first half of this year.