CEOs of both companies jointly discover superior overseas assets and strengthen investment cooperation
Localization of sales, such as participation in syndicated loans through global networks
[서울=뉴스핌] Reporter Jeong-yoon Lee = Woori Bank announced on the 9th that it has signed a business agreement with the Korea Investment Corporation (KIC) for joint discovery and investment cooperation in overseas projects.
The signing ceremony was attended by major officials from both companies, including Woori Bank President Kwon Kwang-seok and Korea Investment Corporation President Choi Hee-nam, combining 447 global networks of Woori Bank, a global financial company, and Korea Investment Corporation, a sovereign wealth fund, to advance into overseas business. We decided to strengthen our investment.
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| On the 8th, Woori Bank signed a’business alliance agreement for overseas investment cooperation’ with Korea Investment Corporation at the Gwang-Customs Office of Woori Bank’s headquarters in Jung-gu, Seoul. Kwon Kwang-seok (right), president of Woori Bank, and Choi Hee-nam (left), president of Korea Investment Corporation, are taking commemorative photos. (Photo = Woori Bank) |
Founded in 2005, Korea Investment Corp. is a sovereign wealth fund in Korea. It is a specialized investment agency that generates profits by investing assets entrusted by the government in overseas stocks, bonds, and real estate.
Woori Bank secures opportunities to diversify revenue sources and enhance profitability by jointly discovering and investing in high-quality overseas assets such as real estate and infrastructure assets with Korea Investment Corporation. In particular, Woori Bank, which accelerates overseas localization business, aims to support companies invested by Korea Investment Corporation. It was decided to continue comprehensive cooperation in various fields, such as participating in syndicate loans.
In addition, it has decided to increase its global IB capabilities and sales power by exchanging information on overseas business including investment environments by country and region.
An official from Woori Bank said, “Through this agreement, we expect to be able to diversify assets under management in the overseas investment sector and increase profitability,” and said, “Woori Bank will continue to secure a stable profit base by continuously discovering overseas cooperation projects.”