Latest Woori Financial Group News & Updates

South Korean Financial Groups Report $2 Billion in Estimated Losses

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Seoul, May 3 (IANS) Some 3 trillion won (around $2 billion) worth of loans extended by South Korea’s four major financial groups have been classified as “estimated loss” in the first quarter, financial sector data showed on Sunday.A total of 2.9 trillion won of loans held by these groups were deemed largely unrecoverable as of the end of March, up 5.8 percent from the same period a year earlier, according to a fact book released by the four major lenders.The four financiers are KB Financial Grou…