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Woori Financial Group files for Korea Exchange listing

Woori Financial Group filed a listing application with the Korea Exchange following its launch as the holding company of Woori Bank.

The company will be listed Feb. 13 in lieu of Woori Bank whose shares will be converted into that of Woori Financial Group. Woori Bank's shares were suspended from trading Jan. 9 and will be delisted Feb. 13.

The new holding company was launched Jan. 11 and began operations Jan. 14. It has six wholly owned subsidiaries under its control, including Woori Bank.

Korea Deposit Insurance Corp., which owned 18.43% of Woori Bank, will remain the largest shareholder of Woori Financial Group with a 18.32% stake.

As of Jan. 14, US$1 was equivalent to 1,120.94 South Korean won.