The consolidated financial statements for Woori Bank and its subsidiaries (the “Group”) include the following subsidiaries:
| Percentage of ownership (%) | ||||||||||||
|
Subsidiaries |
Main business | December 31, 2016 | December 31, 2017 | |||||||||
|
Woori Bank: |
||||||||||||
|
Woori FIS Co., Ltd. |
|
System software development & maintenance |
|
100.0 | 100.0 | |||||||
|
Woori Private Equity Asset Management Co., Ltd. |
Finance | 100.0 | 100.0 | |||||||||
|
Woori Finance Research Institute Co., Ltd. |
Other service business | 100.0 | 100.0 | |||||||||
|
Woori Card Co., Ltd. |
Finance | 100.0 | 100.0 | |||||||||
|
Woori Investment Bank Co., Ltd.(*1) |
|
Other credit finance business |
|
58.2 | 59.8 | |||||||
|
Woori Credit Information Co., Ltd. |
Credit information | 100.0 | 100.0 | |||||||||
|
Woori America Bank |
Finance | 100.0 | 100.0 | |||||||||
|
Woori Global Markets Asia Limited |
” | 100.0 | 100.0 | |||||||||
|
Woori Bank China Limited |
” | 100.0 | 100.0 | |||||||||
|
AO Woori Bank |
” | 100.0 | 100.0 | |||||||||
|
PT Bank Woori Saudara Indonesia 1906 Tbk(*1) |
” | 74.0 | 79.9 | |||||||||
|
Banco Woori Bank do Brasil S.A. |
” | 100.0 | 100.0 | |||||||||
|
Korea BTL Infrastructure Fund |
” | 99.9 | 99.9 | |||||||||
|
Woori Fund Service Co., Ltd. |
” | 100.0 | 100.0 | |||||||||
|
Woori Finance Cambodia PLC. |
” | 100.0 | 100.0 | |||||||||
|
Woori Finance Myanmar Co., Ltd. |
” | 100.0 | 100.0 | |||||||||
|
Wealth Development Bank |
” | 51.0 | 51.0 | |||||||||
|
Woori Bank Vietnam Limited |
” | 100.0 | 100.0 | |||||||||
|
Kumho Trust First Co., Ltd.(*2) |
Asset securitization | 0.0 | 0.0 | |||||||||
|
Asiana Saigon Inc.(*2) |
” | 0.0 | 0.0 | |||||||||
|
An-Dong Raja First Co., Ltd.(*6) |
” | 0.0 | — | |||||||||
|
Consus Eighth Co., LLC(*2) |
” | 0.0 | 0.0 | |||||||||
|
KAMCO Value Recreation First Securitization Specialty Co., Ltd.(*2) |
” | 15.0 | 15.0 | |||||||||
|
Hermes STX Co., Ltd.(*2) |
” | 0.0 | 0.0 | |||||||||
|
BWL First Co., LLC(*2) |
” | 0.0 | 0.0 | |||||||||
|
Woori Poongsan Co., Ltd.(*6) |
” | 0.0 | — | |||||||||
|
Deogi Dream Fourth Co., Ltd.(*2) |
” | 0.0 | 0.0 | |||||||||
|
Jeonju Iwon Ltd.(*2) |
” | 0.0 | 0.0 | |||||||||
|
Wonju I one Inc.(*2) |
” | 0.0 | 0.0 | |||||||||
|
Heitz Third Co., Ltd.(*2) |
” | 0.0 | 0.0 | |||||||||
|
Woorihansoop 1st Co., Ltd.(*2) |
” | 0.0 | 0.0 | |||||||||
|
Electric Cable First Co., Ltd(*2) |
” | 0.0 | 0.0 | |||||||||
|
Woori International First Co., Ltd.(*2) |
” | 0.0 | 0.0 | |||||||||
|
Woori HJ First Co., Ltd.(*2) |
” | 0.0 | 0.0 | |||||||||
|
Woori WEBST 1st Co., Ltd.(*2) |
” | — | 0.0 | |||||||||
|
HNLD 1st Inc.(*2) |
” | — | 0.0 | |||||||||
|
Wibihansoop 1st Co., Ltd.(*2) |
” | — | 0.0 | |||||||||
|
Uri QS 1st Co., Ltd(*2) |
” | — | 0.0 | |||||||||
|
Uri Display 1st Co., Ltd.(*2) |
” | — | 0.0 | |||||||||
|
Tiger Eyes 2nd Co., Ltd.(*2) |
” | — | 0.0 | |||||||||
|
Woori Serveone 1st Co., Ltd.(*2) |
” | — | 0.0 | |||||||||
|
HeungkukWoori Tech Company Private Placement Investment Trust No.1 and 5 beneficiary certificates(*3) |
|
Securities investment and others |
|
— | — | |||||||
|
Principle Guaranteed Trust(*4) |
Trust | 0.0 | 0.0 | |||||||||
|
Principle and Interest Guaranteed Trust(*4) |
” | 0.0 | 0.0 | |||||||||
|
Woori Bank and Woori Private Equity Asset Management Co., Ltd.: |
||||||||||||
|
Woori Private Equity Fund(*5) |
|
Other financial business |
|
31.9 | — | |||||||
|
Woori Private Equity Fund: |
||||||||||||
|
Woori EL Co., Ltd.(*5) |
|
Other financial business |
|
100.0 | — | |||||||
|
Woori Investment Bank: |
||||||||||||
|
Dongwoo First Securitization Specialty Co., Ltd.(*2) |
Asset securitization | 5.0 | 5.0 | |||||||||
|
Seari First Securitization Specialty Co., Ltd.(*2) |
Asset securitization | — | 5.0 | |||||||||
|
Namjong 1st Securitization Specialty Co., Ltd.(*2) |
” | — | 5.0 | |||||||||
|
Bukgeum First Securitization Specialty Co., Ltd.(*2) |
” | — | 5.0 | |||||||||
|
Woori Card Co., Ltd.: |
||||||||||||
|
TUTU Finance-WCI Myanmar Co., Ltd. |
Finance | 100.0 | 100.0 | |||||||||
|
Woori Card one of 2017-1 Securitization Specialty Co., Ltd.(*2) |
Asset securitization | — | 0.5 | |||||||||
|
Woori Card one of 2017-2 Securitization Specialty Co., Ltd.(*2) |
” | — | 0.5 | |||||||||
| (*1) | The entity issued a rights offering that entitles its existing shareholders to buy additional shares directly from the entity in proportion to its existing holders. But, some shareholders opted not to buy the new share and Woori Bank was able to purchase more shares than they would be in accordance with their ownership percentage. This purchase resulted in the increase of its ownership percentage. |
| (*2) | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed, or has rights, to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. |
| (*3) | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation, considering that the Group 1) has the power over the investee, 2) is exposed, or has rights, to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. |
| (*4) | The entity is a money trust under the Financial Investment Services and Capital Markets Act and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed, or has rights, to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. |
| (*5) | Due to liquidation of Woori Private Equity Asset Management Co., Ltd. during the year ended December 31, 2017 the entity was excluded from the scope for consolidation. |
| (*6) | Due to liquidation during the year ended of December 31, 2017, the entity was excluded from the scope for consolidation.” |