t Asia. Securities Brokerage The company provides securities brokerage services through Woori Investment & Securities. Its activities include brokerage services relating to stocks, futures, options, and debt instruments (such as commercial paper). As of December 31, 2012, Woori Investment & Securities had 115 branches. The company also provides securities brokerage services through the Internet and through its home trading system software platforms. International Banking The company, primarily through Woori Bank, engages in various international banking activities, including foreign exchange services and dealing, import and export-related services, offshore lending, syndicated loans, and foreign currency securities investment. These services are provided primarily to its domestic customers, and overseas subsidiaries and affiliates of Korean corporations. The company also raises foreign currency funding through its international banking operations. In addition, it provides commercial banking services to retail and corporate customers in select overseas markets. The principal activities of the overseas branches and subsidiaries of Woori Bank are providing trade financing and local currency funding for Korean companies and Korean nationals operating in overseas markets, as well as servicing local customers and providing foreign exchange services in conjunction with the company’s headquarters. On a limited basis, such overseas branches and subsidiaries of Woori Bank also engage in the investment and trading of securities of foreign issuers. Woori America Bank operates 17 branches in New York, New Jersey, Maryland, Virginia, Pennsylvania, and California, and provides retail and corporate banking services targeted towards the Korean-American community. Woori Bank’s subsidiary, Woori Bank (China) Limited, has branches (including one sub-branch) in Beijing, Shanghai, Shenzhen, Suzhou, Tianjin, Dalian, and Chengdu. Woori Bank’s other subsidiary, Zao Woori Bank, has one branch in St. Petersberg. Asset Management Trust Management Services Money Trusts: The company, through Woori Bank, Kyongnam Bank, Kwangju Bank and Woori Investment & Securities, offers money trust products to its customers and manages the funds they invest in money trusts. The money trusts it manages are trusts with a fixed life that allow investors to share in the investment performance of the trust in proportion to the amount of their investment in the trust. The company principally offers various types of money trust products, including retirement trusts, which invest funds received from corporations or organizations and manage these funds until they are withdrawn to pay retirement funds to a corporation’s officers or employees or an organization’s members; pension trusts, which invest funds received until pension benefits are due to be disbursed to a pension beneficiary; and specified money trusts, which invest cash received as trust property at the direction of the trustors, and once the trust matures, disburse the principal and any gains to the trust beneficiaries. It also offers other types of money trusts that have various differing characteristics with respect to maturities and tax treatment. The company receives fees for its trust management services. It also receives penalty payments when customers terminate their trust deposit prior to the original contract maturity. For some of the money trusts the company manages, it has guaranteed the principal amount of an investor’s investment, as well as a fixed rate of interest. The company offers pension-type money trusts that provide a guarantee of the principal amount of an investor’s investment. The company’s money trusts also invest, to a lesser extent, in equity securities, including beneficiary certificates issued by investment trust management companies. Loans made by the company’s money trusts are similar in type to the loans made by its banking operations. Property Trusts: The company, through Woori Bank, Kyongnam Bank, Kwangju Bank, and Woori Investment & Securities also offers property trust management services, where it manages non-cash assets in return for a fee.
woori finance holdings-adr (WF:New York)
1 - ga, Chung-gu
Phone: 82 2 2125 2000
|No competitor information is available for WF.|
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