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Woori Financial Group (Woori Financial Group) Cash, Cash Equivalents, Marketable Securities


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Woori Financial Group (Woori Financial Group) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Woori Financial Group Inc (NYSE:WF) » Definitions » Cash, Cash Equivalents, Marketable Securities
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Address
51, Sogong-ro, Jung-gu, Seoul, KOR, 04632
Woori is one of Korea's four largest commercial banking groups. It was formed in 2001 through the merger of several financially troubled banks affected by the Asian financial crisis and became temporarily 100% government-owned after a bailout. It had been the largest banking group by assets but is now number four after the government required the sale of a number of subsidiaries in 2014 in an effort to recoup taxpayer money. The government has completed the process of fully divesting itself of Woori, with Korea Deposit Insurance selling its final 1.2% stake in late 2023.