Edgar Filing: WOORI BANK

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2018

Woori Bank

(Translation of Registrant’s name into English)

51, Sogong-ro, Jung-gu, Seoul, 04632, Korea

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Index

1.	Summary of 2018 First Half Business Report

2.	Exhibit 99.1 Woori Bank Review Report for 2018 2Q (Consolidated)

3.	Exhibit 99.2 Woori Bank Review Report for 2018 2Q (Separate)

Summary of

2018 First Half Business Report

Table of Contents


I.	INTRODUCTION OF THE BANK		5

	1.	Overview of the Bank	5

	2.	Capital Structure (Changes in Capital)	10

	3.	Total Number of Authorized Shares	11

	4.	Voting Rights	12

	5.	Dividend Information	12

II.	BUSINESS OVERVIEW		13

	1.	Results of Operations	13

	2.	Business Performance by Operation	13

	3.	Funding Sources and Use of Funds	15

	4.	Other Information Necessary for Making Investment Decisions	17

III.	FINANCIAL INFORMATION		19

	1.	Condensed Financial Statements (Consolidated)	19

	2.	Condensed Financial Statements (Separate)	21

IV.	COMPENSATION TO THE INDEPENDENT AUDITOR		23

	1.	Audit Services	23

	2.	Non-Audit Services	23

V.	CORPORATE GOVERNANCE AND AFFILIATED COMPANIES		24

	1.	About the Board of Directors	24

	2.	Affiliated Companies (as of June 30, 2018)	25

VI.	SHAREHOLDER INFORMATION		25

	1.	Share Distribution	25

	2.	Stock Price and Stock Market Performance	27

VII.	DIRECTORS AND EMPLOYEE INFORMATION		28



	1.	Directors	28

	2.	Employee Status	28

	3.	Directors’ Compensation	29

VIII.	RELATED PARTY TRANSACTIONS		29

Except where indicated otherwise, financial information contained in this document (including the attached financial statements) has been prepared in accordance with the Korean equivalent of International Financial Reporting Standards (“Korean IFRS”), which differ in certain important respects from generally accepted accounting principles in the United States.

All references to “Woori Bank,” “we,” “us” or the “Bank” are to Woori Bank and, unless the context requires otherwise, its subsidiaries. In addition, all references to “Won” or “KRW” in this document are to the currency of the Republic of Korea.

I.	Introduction of the Bank

1.	Overview of the Bank

a.	History


(1) Background: Major developments.

March 27, 2001		Became a subsidiary of Woori Finance Holdings Co., Ltd. (“Woori Finance Holdings”)

December 31, 2001		Merged with the spun off banking division of Peace Bank of Korea

January 31, 2002		Transferred the credit card business of Hanvit Bank to Woori Card

May 22, 2003		Awarded Republic of Korea Corporate Image Grand Prize – Grand Prize for CI and First Prize for Knowledge Management

July 31, 2003		Merged with Woori Investment Bank

March 31, 2004		Merged with Woori Credit Card

September 7, 2004		Selected as 2004 Top Bank of Korea by British magazine “The Bankers”

November 4, 2005		Opened the first comprehensive financial office in the financial sector, “Woori Finance Plaza”

May 19, 2006		Established Korea BTL Infrastructure Fund

December 1, 2006		Officially launched Woori Global Markets Asia Limited

November 12, 2007		Established a local legal entity in China, Woori Bank China Ltd.

January 9, 2008		Established a local legal entity in Russia, ZAO Woori Bank

December 16, 2008		Issued 70,000,000 convertible preferred shares (par value KRW 5,000, issue price KRW 10,000)

April 1, 2009		Issued 60,000,000 common shares for increase in capital

April 1, 2009		Selected as “Outstanding Company in Gender Equal Employment” sponsored by the Ministry of Labor

December 15, 2009		Awarded Asian Financial Culture Grand Prize “Top Prize in Community Activities”

March 21, 2010		Woori Bank China Ltd. acquired qualification as a “settlement bank for Renminbi currency in international trade”


April 18, 2011		Woori Smile Microcredit executed an MOU to jointly support microcredit with the Ministry of Land, Transport and Maritime Affairs

August 24, 2011		Internet banking reached 10 million customers

April 25, 2012		Awarded “2012 Top Bank of Korea” by the Asian Banker for two consecutive years

August 30, 2012		Awarded 2012 Asia PB Top Award by Asia Economic Daily

September 25, 2012		Woori Brazil Bank began business

October 11, 2012		Selected as “Top Financial Institution for Anti-Money Laundering”

November 7, 2012		Awarded Grand Prize for the First Awards for Protection of Financial Consumers in 2012 by the Korea Economic Daily

November 29, 2012		Awarded Presidential Award sponsored by the Financial Supervisory Commission for “Anti-Money Laundering”

December 6, 2012		Awarded “2012 Grand Prize for Small Loan Financing”

December 13, 2012		Awarded Grand Prize for “2012 Aju Economy and Finance Award”

January 17, 2013		Awarded Grand Prize for Top Customer Service

March 27, 2013		Awarded Grand Prize for Woori Bank “Two Chairs” PB services for four consecutive years

April 1, 2013		Spun off its credit card business

June 14, 2013		Inaugurated the 48th President of the Bank, concurrently holding the position of the 6th President of Woori Finance Holdings

June 27, 2013		Number 1 in Korean Standard-Service Quality Index (KS-SQI) for three consecutive years

October 4, 2013		Selected by National Pension Fund as “Top Foreign Exchange Bank”

December 19, 2013		Awarded “Grand Prize for Small Loan Finance” sponsored by the FSS

January 3, 2014		Awarded final approval to acquire Indonesia’s Saudara Bank 115th anniversary of the establishment of the Bank

January 9, 2014		Awarded “2014 Grand Award for Customer Service”


February 21, 2014		Awarded Grand Prize for “Republic of Korea Top Bank”

March 26, 2014		The Bank re-selected as “the main bank for the City of Seoul”

March 29, 2014		Hansae Basketball team, the professional women’s basketball team, won the “overall championship for 2013-14”

April 1, 2014		Established business agreement with Ministry of Health and Welfare for promotion of philanthropic culture

April 17, 2014		Woori Short Term National/Public Bond Fund reached KRW 100 billion in commitments

April 24, 2014		Became the First domestic bank to issue Basel III subordinated debt in foreign currency (USD 1 billion)

May 21, 2014		Awarded “Korea’s Top Bank in Money Management” by Asian Banker in 2014

May 29, 2014		Executed business agreement with the Patent Office for promotion of IP finance

June 2, 2014		Executed business agreement with Korea Housing Guarantee Co., Ltd. for dealing and managing “Guaranteed Standard PF Loans”

June 26, 2014		The Bank selected by the Ministry of Trade, Industry and Energy as the exclusive bank for “R&D Project Development”

July 28, 2014		The Bank’s board of directors approves the merger between Woori Finance Holdings and Woori Bank (the “Merger”)

September 30, 2014		The Korea Deposit Insurance Corporation (the “KDIC”) announced the sale of the controlling stake (30%) in Woori Bank

October 10, 2014		The first Korean bank to issue Yuan-denominated bonds

November 1, 2014		Woori Finance Holdings merged with and into the Bank

November 10, 2014		Opened office in Vladivostok, Russia

December 30, 2014		Inaugurated the 49th President of the Bank, Kwang-Goo Lee Awarded final approval to merge PT. Bank Woori Indonesia with Saudara Bank

February 26, 2015		PT. Bank Woori Saudara Indonesia officially launched


March 31, 2015		Commemoration of the 100 year partnership between Woori Bank and Seoul Metropolitan Government

May 26, 2015		Launched mobile-only bank, WiBee Bank

		WiBee Bank mobile loan products released

August 20, 2015		Launched Woori-Samsung Pay Service

September 19, 2015		Launched first overseas service of WiBee Bank, ‘WiBee Bank Cambodia’

November 29, 2015		K-Bank is selected as the first internet-only bank (Woori Bank stake 10%)

January 6, 2016		Launched 1^stbank mobile messenger service, WibeeTalk

June 24, 2016		First Korean Bank to launch offshore Won-Yuan clearing services

September 21, 2016		Successfully issued $500 million foreign currency denominated contingent convertible bonds, the first in the form of perpetual bonds in Korea.

November 13, 2016		The FSC announced the KDIC’s successful privatization efforts through the sales of a combined 29.7% ownership interest in Woori Bank to seven financial companies

December 8, 2016		Selected as 2016 Top Bank of Korea by British magazine “The Bankers”

December 27, 2016		Achievement of an overseas network comprising 250 branches

December 28, 2016		The number of users of WiBee platforms, WiBee Talk and WiBee Members, exceeds 3 million

January 5, 2017		The first Korean bank to launch ‘One-touch Notice’ in foreign languages

January 12, 2017		Selected as the 2016 Best Korean Wealth Management Provider by British magazine “World Finance”

February 5, 2017		The first Korean bank to Open office in Katowice, Poland

March 22, 2017		The first Korean bank to launch Korean film investment fund ‘Woori Bank-Company K Korean film investment fund’

March 28, 2017		Launched SORi, the first voice recognition AI banking service in Korea


June 8, 2017		Awarded “Best Transaction Bank” and “Top Bank in Money Management” by Asian Banker

June 21, 2017		Launched overseas remittance service with an Indonesian telecommunications company, the first in the Korean financial sector

June 28, 2017		Received a Presidential Citation for “social enterprise fosterage” from the Ministry of Employment and Labor, the sole recipient from the Korean financial sector.

July 12, 2017		Joint declaration to create jobs by management and labor force for the first time in the Korean financial sector

September 8, 2017		Woori Bank Vietnam launched a local credit card in collaboration with Woori Card

October 16, 2017		Selected by National Pension Fund as main transaction bank

November 30, 2017		Awarded ‘2017 Asia-Pacific Bank of the Year’ by Bankers

December 22, 2017		Inaugurated the 51^stPresident of the Bank, Tae-Seung Sohn

December 26, 2017		Established global networks of 300

January 15, 2018		Opened sub-branch in Incheon International Airport Passenger Terminal 2

February 1, 2018		Launched comprehensive real-estate information platform, ‘WiBee Homes’

May 8, 2018		Implemented new core banking system ‘WINI’

June 24, 2018		Acquired a local financial institution in Cambodia, WB Finance (‘VisionFund Cambodia’), expanding global network to 410

b.	Affiliated Companies

(1)

Overview of Business Group

Name of business group: Woori Bank

(2)

Affiliated companies within the business group


As of June 30, 2018
Type	Name of Company	Controlling Company
Company	Woori Bank	—
First Tier Subsidiaries (19 companies)	Woori Card (equity ownership 100.0%)	Woori Bank
	Woori Investment Bank (equity ownership 59.83%)
	Woori FIS (equity ownership 100.0%)
	Woori Private Equity Asset Management (equity ownership 100.0%)
	Woori Finance Research Institute (equity ownership 100.0%)
	Woori Credit Information (equity ownership 100.0%)
	Woori Fund Services (equity ownership 100.0%)
	Korea BTL Infrastructure Fund (equity ownership 99.87%)
	Woori America Bank (equity ownership 100.0%)
	PT. Bank Woori Saudara Indonesia (equity ownership 79.88%)
	AO Woori Bank (equity ownership 100.0% - 1 share)
	Woori Bank China Limited (equity ownership 100.0%)
	Woori Bank Brasil (equity ownership 100.0% - 1 share)
	Woori Finance Cambodia (equity ownership 100.0%)
	WB Finance (Cambodia) (equity ewnership 100.0%)
	Woori Finance Myanmar (equity ownership 100.0%)
	Woori Wealth Bank Philippines (equity ownership 51%)
	Woori Bank Vietnam (equity ownership 100.0%)
	Woori Global Markets Asia Ltd. (equity ownership 100.0%)
Second Tier Subsidiaries (1 company)	TUTU Finance-WCI Myanmar (equity ownership 100.0%)	Woori Card

*	Listed Companies : Woori Bank, Woori Investment Bank and PT. Bank Woori Saudara Indonesia

2.	Capital Structure (Changes in Capital)


As of June 30, 2018						(units: Won, shares)
Date	Category	Stock Decrease/Increase
Date	Category	Type	Quantity	Par Value	Issue price	Note
4.1.2013	Capital reduction with compensation	Common	153,797,130	5,000	5,000	Capital reduction due to spin off of credit card business
4.1.2013	Capital reduction with compensation	Preferred	15,469,070	5,000	10,000	Capital reduction due to spin off of credit card business
6.5.2013	Exercise of conversion rights	Common	54,530,930	5,000	10,000	Reduction of preferred shares due to exercise of rights to convert convertible preferred shares
6.5.2013	Exercise of conversion rights	Preferred	54,530,930	5,000	10,000	Increase in common shares due to exercise of rights to convert convertible preferred shares
11.3.2014	—	Common	596,690,380	5,000	5,000	Capital reduction due to the merger with Woori Finance Holdings
11.3.2014	—	Common	676,278,371	5,000	5,000	Increase in common shares (new issuance of shares) due to the merger with Woori Finance Holdings
10.2.2015	—	Common	278,371	5,000	—	Retirement of shares*

*	Upon consummation of the merger with Woori Finance Holdings, 596,690,380 shares of the Bank were cancelled and 676,278,371 shares were newly issued according to the merger ratio.

On October 2, 2015, 278,371 shares were retired and the total number of shares issued changed to 676,000,000 shares. There was no decrease to Woori Bank’s capital as the number of outstanding shares remains the same. [Related Disclosure : Report on Form 6-K submitted by Woori Bank on September 11, 2015, entitled “Resolution Relating to Retirement of Shares”]

3.	Total Number of Authorized Shares


As of June 30, 2018			(unit: shares)
Items	Type
Items	Common Shares		Total
Total number of shares authorized		5,000,000,000		5,000,000,000
Total number of shares issued to date		676,000,000		676,000,000
Number of treasury shares		2,728,774		2,728,774
Number of outstanding shares		673,271,226		673,271,226

*	Upon consummation of the merger with Woori Finance Holdings, 596,690,380 shares of the Bank were cancelled and 676,278,371 shares were newly issued according to the merger ratio.

On September 30, 2015 Woori Bank terminated its trust agreement and acquired 2,913,155 treasury shares which were deposited into Woori Bank’s treasury share account. On October 2, 2015, 278,371 of such acquired shares were retired. [Related Disclosure : Report on Form 6-K submitted by Woori Bank on September 11, 2015, entitled “Resolution Relating to Retirement of Shares”]

4.	Voting Rights


As of June 30, 2018		(unit: shares)
Items		Number of stock		Notes
Total number of shares issued	Common Shares		676,000,000		—
Total number of shares issued	Preferred Shares		—		—
Number of shares without voting rights	Common Shares		2,728,774		Note 1	)
Number of shares without voting rights	Preferred Shares		—		—
Number of shares for which voting rights are excluded pursuant to the articles of incorporation	Common Shares		—		—
	Preferred Shares		—		—
Number of shares for which voting rights are limited by law	Common Shares		17,454,546		Note 2	)
Number of shares for which voting rights are limited by law	Preferred Shares		—		—
Number of shares for which voting rights have been restored	Common Shares		—		—
Number of shares for which voting rights have been restored	Preferred Shares		—		—
Number of shares for which voting rights may be exercised	Common Shares		655,816,680		—
Number of shares for which voting rights may be exercised	Preferred Shares		—		—

Note 1) The shares without voting rights are treasury shares. Please see “I. Introduction of the Bank – 3. Total Number of Authorized Shares.”

Note 2) Pursuant to Article 16-2(2) of the Banking Act, a non-financial business operator is restricted from exercising voting rights in excess of 4% of the total number of outstanding voting shares of a bank.

5.	Dividend Information


Items		1H 2018		2017		2016
Par value per share (Won)			5,000		5,000		5,000
Net profit (Millions of Won)			1,305,878		1,512,148		1,261,266
Earnings per share (Won)			1,828		1,999		1,567
Total cash dividends (Millions of Won)			—		403,963		269,308
Total stock dividends (Millions of Won)			—		—		—
Cash dividend payout ratio (%)			—		26.71		21.35
Cash dividend yield (%)	Common Shares		—		3.70		3.01
Cash dividend yield (%)	Preferred Shares		—		—		—
Stock dividend yield (%)	Common Shares		—		—		—
Stock dividend yield (%)	Preferred Shares		—		—		—
Cash dividend per share (Won)	Common Shares		—		600		400
Cash dividend per share (Won)	Preferred Shares		—		—		—
Stock dividend per share (Won)	Common Shares		—		—		—
Stock dividend per share (Won)	Preferred Shares		—		—		—

*	Based on K-IFRS consolidated financial statements

*	2017 figures include interim dividends

II.

Business Overview

1.	Results of Operations


As of June 30, 2018	(unit: 100 millions of Won)
Type	1H 2018		1H 2017		2017		2016
Operating income		18,077		14,842		21,567		15,742
Non-operating income		544		805		1,679		1,690
Non-operating expenses		606		1,348		3,751		1,898
Ordinary profits		18,015		14,299		19,495		15,534
Income from continuing operations before income tax		18,015		14,299		19,495		15,534
Income tax expense from continuing operations		4,852		3,209		4,194		2,759
Income from discontinued operations		—		—		—		—
Net income		13,163		11,090		15,301		12,775

*	Based on K- IFRS consolidated financial statements

2.	Business Performance by Operation

a.	Deposit Services


As of June 30, 2018		(unit: millions of Won)
Type		1H 2018		2017		2016
Deposits received in local currency	Demand deposits		9,337,563		9,349,070		9,491,680
	Fixed deposits		198,765,132		194,289,437		183,723,169
	Mutual funds		32,292		34,055		37,128
	Subtotal		208,134,986		203,672,562		193,251,977
Deposits received in foreign currencies			21,949,850		23,682,755		21,452,943
CDs			4,552,825		4,399,817		3,808,856
Money trusts			1,401,853		1,401,841		1,360,176
Other deposits received			1,860,652		1,538,110		1,146,459
Total			237,900,166		234,695,084		221,020,411

*	Based on K- IFRS consolidated financial statements

b.	Loan Services

(a)

Balances of Loans by Type


As of June 30, 2018	(unit: millions of Won)
Type	1H 2018		2017		2016
Loans in local currency		205,110,682		200,213,230		191,309,481
Loans in foreign currencies		17,805,418		15,664,795		17,855,868
Guarantee payments		14,910		23,620		25,197
Total		222,931,010		215,901,645		209,190,547

*	Based on K- IFRS consolidated financial statements

*	Loans in foreign currencies includes domestic banker’s letter of credit (usance)

(b)

Balances of Loans by Maturity


As of June 30, 2018						(unit: in millions of Won)
Type	1 year or under		Over 1 year ~ 3 years or under		Over 3 years ~ 5 years or under		Over 5 years		Total
Loans in local currency		101,056,521		41,538,706		9,788,418		50,583,210		202,966,855
Loans in foreign currencies		8,029,436		1,824,600		876,109		845,717		11,575,862

*	Based on K- IFRS separate financial statements

c. Guarantees


As of June 30, 2018	(unit: millions of Won)
Type	1H 2018		2017		2016
Confirmed guarantees		6,563,000		6,875,021		8,270,187
Unconfirmed guarantees		4,510,070		4,526,593		5,101,701
Commercial paper purchase commitments and others		1,299,503		1,458,101		1,389,896

*	Based on K- IFRS consolidated financial statements

d. Trust Business

As of June 30, 2018

(unit: millions of Won)

Type

1H 2018

2017

2016

Trust Funds

Trust Fees

Trust Funds

Trust Fees

Trust Funds

Trust Fees

Money trust

35,301,197

102,572

30,131,764

139,025

26,019,180

73,814

Property trust

13,699,621

2,538

12,942,930

4,507

12,714,338

4,803

Total

49,000,818

105,110

43,074,694

143,532

38,733,518

78,617

*	Trust funds indicate average balances.

3.	Funding Sources and Use of Funds

a.	Sources of Funds

[Bank Accounts]

(unit: millions of Won, %)


Classification	Funding Source	1H 2018						2017						2016
Classification	Funding Source	Average Balance		Interest Rate		Proportion		Average Balance		Interest Rate		Proportion		Average Balance		Interest Rate		Proportion
Local currency funds	Deposits received in local currency		195,521,640		1.37		66.83		187,332,008		1.26		66.02		183,440,285		1.38		65.35
	Certificates of deposit		4,297,945		1.83		1.47		4,500,100		1.66		1.59		3,466,223		1.70		1.23
	Borrowings in local currency		6,433,216		1.44		2.20		6,213,903		1.32		2.19		6,709,080		1.45		2.39
	Call money in local currency		235,962		1.51		0.08		1,254,623		1.23		0.44		1,159,188		1.32		0.41
	Others		21,082,759		2.36		7.21		20,168,307		2.29		7.11		18,532,241		2.60		6.60
	Subtotal		227,571,521		1.47		77.79		219,468,941		1.37		77.34		213,307,017		1.50		75.98
Foreign currency funds	Deposits received in foreign currencies		15,583,073		0.72		5.33		14,338,927		0.51		5.05		14,838,684		0.47		5.29
	Borrowings in foreign currencies		6,129,382		1.96		2.10		7,267,096		1.38		2.56		8,595,575		0.86		3.06
	Call money in foreign currencies		597,715		1.55		0.20		980,001		1.14		0.35		1,401,294		0.70		0.50
	Debentures in foreign currencies		3,597,648		3.69		1.23		3,649,805		3.11		1.29		3,950,614		2.54		1.41
	Others		730,110		0.48		0.25		574,786		0.14		0.20		531,877		0.29		0.19
	Subtotal		26,637,928		1.42		9.11		26,810,615		1.12		9.45		29,318,044		0.87		10.44
Others	Total capital		20,110,329		—		6.87		20,134,843		—		7.10		19,617,484		—		6.99
	Provisions		454,845		—		0.16		351,750		—		0.12		412,553		—		0.15
	Others		17,780,446		—		6.08		16,993,430		—		5.99		18,070,427		—		6.44
	Subtotal		38,345,620		—		13.11		37,480,023		—		13.21		38,100,463		—		13.57
Total			292,555,069		1.27		100.00		283,759,580		1.16		100.00		280,725,524		1.23		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]

(unit: millions of Won, %)


Type	Funding Source	1H 2018						2017						2016
Type	Funding Source	Average Balance		Interest Rate		Share		Average Balance		Interest Rate		Share		Average Balance		Interest Rate		Share
Cost	Money trusts		35,301,197		1,76		71.85		30,131,764		1.70		69.76		26,019,180		1.52		66.98
	Borrowings		0		0,00		0.00		0		0.00		0.00		0		0.00		0.00
	Subtotal		35,301,197		1,76		71.85		30,131,764		1.70		69.76		26,019,180		1.52		66.98
Non-cost	Property trusts		13,699,621		—		27.88		12,942,930		—		29.97		12,714,338		—		32.73
	Special reserves		39,845		—		0.08		39,082		—		0.09		38,160		—		0.10
	Other		93,115		—		0.19		76,821		—		0.18		72,810		—		0.19
	Subtotal		13,832,581		—		28.15		13,058,833		—		30.24		12,825,308		—		33.02
Total			49,133,778		—		100.00		43,190,597		—		100.00		38,844,488		—		100.00

b.	Fund Management Performance

[Bank Accounts]

(unit: millions of Won, %)


Type	Managed Item	1H 2018								2017								2016
Type	Managed Item	Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share
Local currency funds	Deposits in local currency		4,130,599			1.46		1.41			3,424,567			1.28		1.21			3,171,599			1.34		1.13
	Marketable securities in local currency		32,935,615			2.24		11.26			35,186,537			1.95		12.40			33,880,119			2.58		12.07
	Loans in local currency		201,363,818			3.18		68.83			194,161,817			3.05		68.42			189,079,324			3.10		67.35
	Guarantee payments		17,734			1.99		0.01			26,639			3.14		0.01			51,254			0.89		0.02
	Call loans in local currency		1,338,230			1.64		0.46			2,275,748			1.33		0.80			3,581,382			1.41		1.28
	Private placed bonds		126,344			3.05		0.04			185,092			5.94		0.07			247,292			5.19		0.09
	Credit card receivables		—			—		—			28			—		0.00			24			—		0.00
	Other		6,608,073			2.02		2.26			4,235,478			1.99		1.49			4,580,215			2.04		1.63
	Bad debt expense in local currency (-)		(1,263,122	)		—		(0.43	)		(1,284,188	)		—		(0.45	)		(1,925,177	)		—		(0.69	)
	Subtotal		245,257,291			3.00		83.83			238,211,718			2.85		83.95			232,666,033			2.98		82.88
Foreign currency funds	Deposits in foreign currencies		3,930,846			1.22		1.34			3,791,184			0.67		1.34			3,761,286			0.43		1.34
	Marketable securities in foreign currencies		3,385,251			1.22		1.16			2,735,707			1.07		0.96			1,752,884			1.13		0.62
	Loans in foreign currencies		10,770,723			2.94		3.68			10,790,442			2.51		3.80			13,371,873			1.95		4.76
	Call loans in foreign currencies		2,433,668			1.87		0.83			2,506,588			1.33		0.88			2,940,858			0.85		1.05
	Bills bought		7,167,970			2.60		2.45			7,417,500			1.88		2.61			7,110,164			1.53		2.53
	Other		34,827			2.73		0.01			48,472			2.50		0.02			13,829			9.72		0.00
	Bad debt expense in foreign currencies (-)		(486,471	)		—		(0.17	)		(332,301	)		—		(0.12	)		(312,211	)		—		(0.11	)
	Subtotal		27,236,812			2.35		9.31			26,957,590			1.85		9.50			28,638,685			1.51		10.20
Other	Cash		1,224,071			—		0.42			1,201,343			—		0.42			1,169,566			—		0.42
	Property and equipment for business purposes		2,360,666			—		0.81			2,352,466			—		0.83			2,325,893			—		0.83
	Other		16,476,230			—		5.63			15,036,463			—		5.30			15,925,347			—		5.67
	Subtotal		20,060,966			—		6.86			18,590,272			—		6.55			19,420,807			—		6.92
Total			292,555,069			2.73		100.00			283,759,580			2.57		100.00			280,725,524			2.62		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]

(Unit: millions of Won, %)


Type	Managed Item	1H 2018							2017							2016
Type	Managed Item	Average Balance			Interest Rate		Share		Average Balance			Interest Rate		Share		Average Balance			Interest Rate		Share
Profit	Loans		34,264			3.57		0.07		27,539			3.62		0.06		23,088			4.21		0.06
	Securities		11,509,810			4.01		23.43		8,038,329			3.25		18.61		4,701,052			1.93		12.10
	Other		24,552,003			1.91		49.97		22,962,574			1.47		53.17		22,237,766			1.63		57.25
	Reserves for bond ratings (-)		(18	)		0.00		0.00		(45	)		0.00		0.00		(36	)		0.00		0.00
	Present value discount (-)		(7	)		0.00		0.00		(72	)		0.00		0.00		(215	)		0.00		0.00
	Subtotal		36,096,052			2.58		73.46		31,028,325			1.93		71.84		26,961,655			1.68		69.41
Non-profit	Subtotal		13,037,726			—		26.54		12,162,272			—		28.16		11,882,833			—		30.59
Total			49,133,778			—		100.00		43,190,597			—		100.00		38,844,488			—		100.00

4. Other Information Necessary for Making Investment Decisions

a.	Selected Ratios

BIS Capital Adequacy Ratios


	(unit: 100 millions of Won, %)
Type	1H 2018		2017		2016
Equity capital (A)		231,996		226,032		229,005
Risk weighted assets (B)		1,519,886		1,467,622		1,497,281
Capital adequacy ratio (A/B)		15.26		15.40		15.29

Liquidity Ratios


(unit: %)
Type	1H 2018		2017		2016
Liquidity coverage ratio (LCR)		101.60		102.06		109.52
Foreign currency liquidity coverage ratio(LCR) **		119.32		103.11		—
Ratio of business purpose premises and equipment ***		12.80		13.49		13.49

*	Based on K-IFRS consolidated financial statements

**	Newly introduced in 2017 (Current minimum ratio is 70% in 2018; to increase to 80% in 2019). Our foreign currency LCR was 120.66% in April 2018, 118.09% in May 2018 and 119.13% in June 2018.

***	Based on the ending balances of 1H 2018, FY 2017 and FY2016

b.	Asset Quality


		(unit: 100 millions of Won)
Type		1H 2018			2017			2016
Total loans	Total		2,262,351			2,221,185			2,166,122
	Corporate		1,181,528			1,155,213			1,140,252
	Household		1,080,822			1,065,972			1,025,870
Sub-standard and below loans Sub-standard and below loan ratio	Total		11,458			18,396			21,121
	Total		0.51	%		0.83	%		0.98	%
	Corporate		8,917			15,826			18,237
	Corporate		0.75	%		1.37	%		1.60	%
	Household		2,541			2,570			2,884
	Household		0.24	%		0.24	%		0.28	%
Delinquency ratio	Based on total loans (after seasonal adjustment)		0.33	%		0.34	%		0.46	%
	Based on total loans (after seasonal adjustment)		(0.52	)%		(0.38	)%		(0.52	)%
	Based on corporate loans (after seasonal adjustment)		0.41			0.45	%		0.61	%
	Based on corporate loans (after seasonal adjustment)		(0.69	)%		(0.49	)%		(0.66	)%
	Based on household loans (after seasonal adjustment)		0.31	%		0.28	%		0.31	%
	Based on household loans (after seasonal adjustment)		(0.42	)%		(0.31	)%		(0.33	)%

*	Based on K-IFRS separate financial statements

c.	Recent Developments

On November 1, 2014, the Bank merged with its holding company, Woori Finance Holdings, according to the resolution of the board of directors on July 28, 2014, to maximize the possibility of a successful privatization. New shares of the Bank, the surviving entity, were allotted and delivered to the shareholders of Woori Finance Holdings based on a 1:1.00000000 ratio.

Upon the consummation of the merger, 596,690,380 shares of the Bank were cancelled and 676,278,371 new shares were issued.

The major terms of the Merger are as follows:


Item	Details
Method of Merger	Merger of parent company with and into wholly-owned subsidiary

Merging entities	Woori Bank (surviving entity)
Merging entities	Woori Finance Holdings (non-surviving entity)

New shares issued in Merger	676,278,371 common shares

Schedule of the Merger	Date of the Merger	November 1, 2014
	Date of registration of Merger	November 3, 2014
	Delivery of share certificates	November 18, 2014
	Date of new listing of shares	November 19, 2014

III.

Financial Information

1.	Condensed Financial Statements (Consolidated)

Summary Consolidated Statement of Financial Position


(The Bank and its Consolidated Subsidiaries)	(unit: millions of Won)
Classification	1H 2018			2017			2016
ASSETS
Cash and cash equivalents		5,920,568			6,908,286			7,591,324
Financial assets at FVTPL (fair value through profit or loss) K-IFRS1109		6,340,704			—			—
Financial assets at FVTPL (fair value through profit or loss) K-IFRS1039		—			5,843,077			5,650,724
Financial assets at FVTOCI (other comprehensive income)		14,644,608			—			—
Available-for-sale financial assets		—			15,352,950			20,817,583
Securities at amortized cost		17,702,129						—
Held-to-maturity financial assets		—			16,749,296			13,910,251
Loans and other financial assets at amortized cost		277,720,003			—			—
Loans and receivables		—			267,106,204			258,392,633
Investments in joint ventures and associates		412,940			417,051			439,012
Investment properties		381,177			371,301			358,497
Premises and equipment		2,450,754			2,477,545			2,458,025
Intangible assets and goodwill		653,514			518,599			483,739
Assets held for sale		18,705			48,624			2,342
Current tax assets		11,322			4,722			6,229
Deferred tax assets		89,711			280,130			232,007
Derivative assets		12,395			59,272			140,577
Net defined benefit assets		—			—			70,938
Other assets		202,800			158,404			128,846
Total assets		326,561,330			316,295,461			310,682,727
LIABILITIES
Financial liabilities at FVTPL (fair value through profit or loss) K-IFRS1109		2,578,332			—			—
Financial liabilities at FVTPL (fair value through profit or loss) K-IFRS1039		—			3,427,909			3,803,358
Deposits due to customers		237,900,166			234,695,084			221,020,411
Borrowings		15,899,599			14,784,706			18,769,515
Debentures		26,752,725			27,869,651			23,565,449
Provisions		386,374			410,470			428,477
Net defined benefit liability		99,859			43,264			64,666
Current tax liabilities		154,202			232,600			171,192
Deferred tax liabilities		14,777			22,681			22,023
Derivative liabilities		67,505			67,754			7,221
Other financial liabilities		21,408,267			13,892,461			21,985,086
Other liabilities		302,913			283,981			299,376
Total liabilities		305,564,719			295,730,561			290,136,774
EQUITY
Owners’ equity:		20,790,188			20,365,892			20,386,160
Capital stock		3,381,392			3,381,392			3,381,392
Hybrid securities		2,763,256			3,017,888			3,574,896
Capital surplus		285,885			285,880			286,331
Other equity		(2,113,798	)		(1,939,274	)		(1,468,025	)
Retained earnings		16,473,453			15,620,006			14,611,566
Non-controlling interests		206,423			199,008			159,793
Total equity		20,996,611			20,564,900			20,545,953
Total liabilities and equity		326,561,330			316,295,461			310,682,727
Number of Consolidated Subsidiaries		61			53			74

Summary Consolidated Statement of Comprehensive Income


(The Bank and its Consolidated Subsidiaries)	(unit: millions of Won, except per share amounts)
Classification	1H 2018			1H 2017			2017			2016
Operating income		1,807,715			1,484,228			2,156,742			1,574,206
Net interest income		2,764,474			2,550,320			5,220,650			5,019,544
Net fees and commissions income		602,655			537,700			1,070,466			937,131
Dividend income		49,704			59,445			124,992			184,510
Net gain or loss on financial instruments at FVTPL (fair value through profit or loss) K-IFRS1109		117,023			—			—			—
Net gain or loss on financial instruments at FVTPL (fair value through profit or loss) K-IFRS1039		—			(146,409	)		(104,827	)		114,387
Net gain or loss on financial assets at FVTOCI		1,287			—			—			—
Net gain or loss on available for sale financial assets		—			104,172			192,708			(1,035	)
Net gain or loss arising on financial assets at amortized cost		30,886			—			—			—
Impairment losses due to credit loss		28,438			(283,763	)		(785,133	)		(834,076	)
General and administrative expenses		(1,567,338	)		(1,538,427	)		(3,530,801	)		(3,478,476	)
Other net operating income (expenses)		(219,414	)		201,190			(31,313	)		(367,779	)
Non-operating income		(6,183	)		(54,280	)		(207,236	)		(20,817	)
Net income before income tax expense from continuing operations		1,801,532			1,429,948			1,949,506			1,553,389
Income tax expense from continuing operations		(485,216	)		(320,933	)		(419,418	)		(275,856	)
Net income from continuing operations		1,316,316			1,109,015			1,530,088			1,277,533
Net income from discontinued operations		—			—			—			—
Net income		1,316,316			1,109,015			1,530,088			1,277,533
Net income attributable to owners		1,305,878			1,098,361			1,512,148			1,261,266
Profit from continuing operations		1,305,878			1,098,361			1,512,148			1,261,266
Profit from discontinued operations		—			—			—			—
Net income attributable to the non-controlling interests		10,438			10,654			17,940			16,267
Profit from continuing operations		10,438			10,654			17,940			16,267
Profit from discontinued operations		—			—			—			—
Other comprehensive income (loss), net of tax		7,823			(107,412	)		(276,796	)		77,894
Items that will not be reclassified to profit or loss		(26,559	)		(9,677	)		10,497			34,162
Items that may be reclassified to profit or loss		34,382			(97,735	)		(287,293	)		43,732
Total comprehensive income		1,324,139			1,001,603			1,253,292			1,355,427
Comprehensive income attributable to the owners		1,315,322			995,742			1,249,057			1,332,614
Comprehensive income attributable to non-controlling interests		8,817			5,861			4,235			22,813
Net Income Per Share
Continuing and discontinued operations
Basic earnings per common share		1,828			1,497			1,999			1,567
Diluted earnings per common share		1,828			1,497			1,999			1,567
Continuing operations
Basic earnings per common share		1,828			1,497			1,999			1,567
Diluted earnings per common share		1,828			1,497			1,999			1,567

2.	Condensed Financial Statements (Separate)

Summary Statement of Financial Position


(The Bank)	(unit: millions of Won)
Classification	1H 2018			2017			2016
ASSETS
Cash and cash equivalents		5,205,509			5,328,960			6,104,029
Financial assets at FVTPL (fair value through profit or loss) K-IFRS1109		4,256,954			—			—
Financial assets at FVTPL (fair value through profit or loss) K-IFRS1039		—			4,133,724			4,076,872
Financial assets at FVTOCI (other comprehensive income)		13,854,656			—			—
Available for sale financial assets		—			14,186,704			18,105,862
Securities at amortized cost		17,568,356			—			—
Held-to-maturity financial assets		—			16,638,727			13,792,266
Loans and other financial assets at amortized cost		256,037,729			—			—
Loans and receivables		—			248,810,624			241,508,048
Investments in subsidiaries and associates		4,240,906			4,148,795			3,779,169
Investment properties		360,075			350,235			348,393
Premises and equipment		2,351,035			2,374,590			2,342,280
Intangible assets		400,008			303,325			242,230
Assets held for sale		15,425			46,183			2,342
Deferred tax assets		49,827			238,543			162,211
Derivative assets		12,395			59,272			140,577
Net defined benefit assets		—			—			70,938
Other assets		146,615			117,889			96,926
Total assets		304,499,490			296,737,571			290,772,143
LIABILITIES
Financial liabilities at FVTPL (fair value through profit or loss) K-IFRS1109		2,575,918			—			—
Financial liabilities at FVTPL (fair value through profit or loss) K-IFRS1039		—			3,416,978			3,793,479
Deposits due to customers		226,726,810			224,384,156			211,382,380
Borrowings		13,994,109			13,662,984			16,060,821
Debentures		20,091,374			21,707,466			18,166,057
Provisions		325,699			368,027			380,473
Net defined benefit liability		71,632			14,284			—
Current tax liabilities		133,625			212,376			148,672
Deferred tax liabilities		—			—			—
Derivative liabilities		34,540			12,103			7,221
Other financial liabilities		20,224,875			13,029,421			20,827,284
Other liabilities		143,143			135,686			153,238
Total liabilities		284,321,725			276,943,481			270,919,625
EQUITY
Capital stock		3,381,392			3,381,392			3,381,392
Hybrid securities		2,763,256			3,017,888			3,574,896
Capital surplus		269,533			269,533			269,533
Other equity		(327,438	)		(135,282	)		138,542
Retained earnings		14,091,022			13,260,559			12,488,155
Total equity		20,177,765			19,794,090			19,852,518
Total liabilities and equity		304,499,490			296,737,571			290,772,143

Summary Statement of Comprehensive Income


(The Bank)	(unit: millions of Won, except per share amounts)
Classification	1H 2018			1H 2017			2017			2016
Operating income		1,623,039			1,298,340			1,790,558			1,270,501
Net interest income		2,315,289			2,131,658			4,390,603			4,222,447
Net fees and commissions income		526,061			465,850			931,021			842,883
Dividend income		40,495			61,736			125,599			220,015
Net gain or loss on financial instruments at FVTPL (fair value through profit or loss) K-IFRS1109		107,822			—			—			—
Net gain or loss on financial instruments at FVTPL (fair value through profit or loss) K-IFRS1039		—			(137,593	)		(96,983	)		97,225
Net gain or loss on financial assets at FVTOCI		723
Net gain or loss on available for sale financial assets		—			90,238			135,003			35,525
Net gain or loss arising on financial assets at amortized cost*		14,853			—			—			—
Impairment losses due to credit loss		163,408			(179,904	)		(553,204	)		(640,443	)
General and administrative expenses		(1,355,859	)		(1,350,512	)		(3,128,725	)		(3,115,371	)
Other net non-operating income (expenses)		(189,753	)		216,867			(12,756	)		(391,780	)
Non-operating income		25,104			(876	)		(170,336	)		40,144
Net income before income tax expense		1,648,143			1,297,464			1,620,222			1,310,645
Income tax expense		(443,328	)		(293,038	)		(344,110	)		(245,043	)
Net income from continuing operations		1,204,815			1,004,426			1,276,112			1,065,602
Net income from discontinued operations		—			—			—			—
Net income		1,204,815			1,004,426			1,276,112			1,065,602
Other comprehensive income (loss), net of tax		(6,892	)		(39,680	)		(65,666	)		32,526
Items that will not be reclassified to profit or loss		(29,169	)		(8,949	)		16,566			33,191
Items that may be reclassified to profit or loss		22,277			(30,731	)		(82,232	)		(665	)
Total comprehensive income		1,197,923			964,746			1,210,446			1,098,128
Net Income Per Share		—			—			—			—
Basic and diluted net income per share		1,678			1,358			1,648			1,277

IV.

Compensation to the Independent Auditor

1.	Audit Services


Term	Auditor	Description	Fee	Total Time
1H 2018	Deloitte Anjin LLC	Closing audit	KRW	—
		Interim audit (including internal accounting management system)	1,727 million	—
		3Q review		—
		1H review		8,169 hours
		1Q review		4,010 hours
2017	Deloitte Anjin LLC	Closing audit	KRW	15,883 hours
		Interim audit (including internal accounting management system)	1,786 million	5,827 hours
		3Q review		4,880 hours
		1H review		4,061 hours
		1Q review		4,020 hours
2016	Deloitte Anjin LLC	Closing audit	KRW	7,515 hours
		Interim audit (including internal accounting management system)	1,561 million	4,210 hours
		3Q review		4,991 hours
		1H review		3,526 hours
		1Q review		3,920 hours

2.	Non-Audit Service


Term	Date of Execution of Agreement	Description of Service	Service Term	Fees
1H 2018	Apr. 16, 2018	Tax adjustment	Each quarter and end of term	KRW 130 million
	Apr. 16, 2018	PCAOB and SOX Auditing	May 1, 2018 ~ Apr. 30, 2019	KRW 1,463 million
	May. 11, 2018	Issuance of GMTN-related comfort letter	May 2018	USD 100,000
	July 30, 2018	Issuance of GMTN-related comfort letter	July 2018 ~ August 2018	USD 44,000
2017	Mar. 15, 2017	Tax adjustment	Each quarter and end of term	KRW 120 million
2017	Mar. 15, 2017	PCAOB and SOX Auditing	May 1, 2017 ~ April 30, 2018	KRW 1,288 million
2016	Mar. 28, 2016	Tax adjustment	Each quarter and end of term	KRW 115 million
	Mar. 28, 2016	PCAOB and SOX Auditing	May 1, 2016 ~ Apr. 30, 2017	KRW 1,127 million
	Mar. 23, 2016	Issuance of GMTN-related comfort letter	May 2016	USD 100,000

V.	Corporate Governance and Affiliated Companies

1.	About the Board of Directors

Composition of the Board of Directors

The board of directors consists of standing directors, outside directors and non-standing directors.

Committees under the Board of Directors

We currently have the following management committees serving under the board of directors:

(a)

Audit Committee

(b)

Board of Directors Management Committee

(c)

Risk Management Committee

(d)

Compensation Committee

(e)

Committee for Recommending Officer Candidates

As of June 30, 2018


Name of Committee	Composition	Names of Members
Audit Committee	Two outside directors, One standing auditor	Sang-Hoon Shin (outside director) Dong-Woo Chang (outside director) Jung-Sik Oh (standing director)

Board of directors management committee	One standing director, Five outside directors One non-standing director	Tae-Seung Sohn (standing director) Sung-Tae Ro (outside director) Sang-Hoon Shin (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Dong-Woo Chang (outside director) Chang-Sik Bae (non-standing director)**

Risk management committee	Three outside directors One non-standing director	Sung-Tae Ro (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Chang-Sik Bae (non-standing director)**

Compensation committee	Five outside directors One non-standing director	Sung-Tae Ro (outside director) Sang-Hoon Shin (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Dong-Woo Chang (outside director) Chang-Sik Bae (non-standing director)**

Committee for recommending officer candidates	One standing director, Five outside directors	Tae-Seung Sohn (standing director) Sung-Tae Ro (outside director) Sang-Hoon Shin (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Dong-Woo Chang (outside director)

*	The chairman of the board of directors and the chairmen and members of the committees were appointed at the 17th extraordinary board of directors’ meeting held on December 22, 2017.

**	Non-standing director : Kwang-Woo Choi’s tenure expired and Chang-Sik Bae was newly appointed at the Annual General Meeting of shareholders held on March 23, 2018.

1)	Jan. 1, 2018 ~ Mar.22, 2018 : Kwang-Woo Choi was a member of Board of directors management committee, Risk management committee and Compensation committee

2)	Mar. 22, 2018 ~ Mar.31, 2018 : Chang-Sik Bae is a member of Board of directors management committee, Risk management committee and Compensation committee

2.	Affiliated Companies (as of June 30, 2018)

LOGO

VI.

Shareholder Information

1.	Share Distribution

a.	Share Information of the Largest Shareholder and Specially Related Parties

As of June 30, 2018

(units: shares, %)

Name

Shares Held

Notes

Relation

Type

Beginning balance

Ending balance

Stock

Korea Deposit

Insurance Corporation(KDIC)

Largest

Shareholder

Common

124,604,797

18.43

124,604,797

18.43

Note 1)

Total

Common

124,604,797

18.43

124,604,797

18.43

Others

—

Note 1) Refer to ‘b. Changes in the largest shareholder’ for changes in the number and percentage of shares held by the KDIC

b.	Changes in the largest shareholder

As of June 30, 2018

(units: shares, %)

Change of Date

Largest Shareholder

Stock Held

Share

Notes

January 1, 2014

Woori Finance Holdings

596,690,380

100.00

November 1, 2014

Korea Deposit Insurance Corporation

385,285,578

56.79

Merger date of Woori Finance Holdings and Woori Bank

December 8, 2014

Korea Deposit Insurance Corporation

345,142,556

51.04

Sale of stake

October 2, 2015

Korea Deposit Insurance Corporation

345,142,556

51.06

Change in the share ownership ratio due to the retirement of shares

December 1, 2016

Korea Deposit Insurance Corporation

239,097,161

35.37

Sale of stake

(Tongyang Life Insurance,

Eugene Asset Management,

Mirae Asset Global Investments, Korea Investment & Securities)

December 8, 2016

Korea Deposit Insurance Corporation

185,017,161

27.37

Sale of stake

(Kiwoom Securities,

Hanwha Life Insurance)

December 14, 2016

Korea Deposit Insurance Corporation

157,977,161

23.37

Sale of stake

( IMM PE)

January 31, 2017

Korea Deposit Insurance Corporation

144,457,161

21.37

Sale of stake

(IMM PE)

May 11, 2017

Korea Deposit Insurance Corporation

143,857,161

21.28

Exercise of Shinhan Investment Corp.’s call option (0.09%)

June 16, 2017

Korea Deposit Insurance Corporation

132,897,007

19.66

Exercise of call option of Employee Stock Ownership Association of Woori Bank (1.62%)

June 22, 2017

Korea Deposit Insurance Corporation

131,697,007

19.48

Exercise of NH Investment & Securities’ call option (0.18%)

June 27, 2017

Korea Deposit Insurance Corporation

130,697,007

19.33

Exercise of NH Investment & Securities’ call option (0.15%)

June 28, 2017

Korea Deposit Insurance Corporation

128,185,796

18.96

Exercise of NH Investment & Securities’ call option ( 0.37%)

July 3, 2017

Korea Deposit Insurance Corporation

126,935,796

18.78

Exercise of Hyosung Capital’s call option (0.18%)

September 28, 2017

Korea Deposit Insurance Corporation

125,205,147

18.52

Exercise of call option of Employee Stock Ownership Association of Woori Bank (0.26%)

December 7, 2017

Korea Deposit Insurance Corporation

124,604,797

18.43

Exercise of call option of Employee Stock Ownership Association of Woori Bank (0.09%)

*	Upon the consummation of the merger of Woori Finance Holdings with and into Woori Bank on November 1, 2014, 596,690,380 shares of the Bank were cancelled and 676,278,371 new shares were issued.

c.	Share Ownership of More Than 5%


As of June 30, 2018						(units: shares, %)
	Name	Shares				Notes
	Name	No. of shares		Percentage of shareholding		Notes
Share ownership of more than 5%	Korea Deposit Insurance Corporation		124,604,797		18.43		—
	National Pension Service		62,809,267		9.29		Note1	)
	Nobis1, Inc. (IMM PE)		40,560,000		6.00
Employee Stock Ownership Association			38,208,351		5.65		—

Note1) Number of shares of the National Pension Service is as of Dec.31, 2017

2.	Stock Price and Stock Market Performance

a.	Domestic Stock Market


												(units: Won, shares)
Period		January 2018		February 2018		March 2018		April 2018		May 2018		June 2018
Common Stock	High		17,200		17,050		16,400		16,100		15,850		17,100
	Low		15,650		15,200		14,250		13,700		15,200		15,500
	Average		16,632		16,403		15,405		14,895		15,563		16,318
Monthly Trade Volume	High		2,697,968		8,494,057		3,186,017		4,093,280		2,602,486		5,823,952
	Low		653,628		780,723		967,071		1,242,179		725,984		847,627
	Monthly Total		28,679,898		33,505,646		37,831,871		45,951,904		27,919,832		35,615,259

*	Source: KRX KOSPI Market

*	Share prices are based on closing prices.

b.	Foreign Stock Market (NYSE)


								(units: US Dollars, Won, ADRs)
Period		January 2018		February 2018		March 2018		April 2018		May 2018		June 2018
ADR	High		49.04		48.24		45.97		44.72		45.15		47.57
	Low		44.73		42.63		40.83		38.43		42.66		42.64
	Average		47.03		45.81		43.72		41.66		43.77		45.11
Won Conversion	High		52,531		52,026		49,151		48,127		48,762		51,066
	Low		47,655		46,372		43,777		40,966		46,042		47,667
	Average		50,169		49,450		46,865		44,483		47,118		49,292
Monthly Trade Volume	High		33,600		30,100		44,100		24,800		19,900		76,400
	Low		6,100		4,000		4,800		4,800		3,900		6,200
	Monthly Total		306,500		278,200		316,100		256,900		250,600		447,400

*	Source: standard trading rate (daily and monthly average) (Seoul Money Brokerage, www.smbs.biz)

*	One ADR represents three common shares.

*	Share prices are based on closing prices.

VII.

Directors and Employee Information

1.	Directors

As of the submission date August 14, 2018

(units: shares)

Position

Name

Common
Stock Owned

Term

Commencement Date

Expiration of Term

President and CEO

Registered

Tae-Seung Sohn

15,296

December 22, 2017 ~

December 21, 2020

Standing Member of

Audit Committee

Registered

Jung-Sik Oh

5,000

March 24, 2017 ~

Note 1)

Outside Director

Registered

Sung-Tae Ro

5,000

December 30, 2016 ~

December 30, 2018

Outside Director

Registered

Sang-Hoon Shin

15,000

December 30, 2016 ~

December 30, 2018

Outside Director

Registered

Sang-Yong Park

1,000

December 30, 2016 ~

December 30, 2018

Outside Director

Registered

Zhiping Tian

—

December 30, 2016 ~

December 30, 2018

Outside Director

Registered

Dong-Woo Chang

—

December 30, 2016 ~

December 30, 2018

Non-standing Director

Registered

Chang-Sik Bae

—

March 23, 2018 ~

Note 2)

Executive Vice President

Non-Registered

An-Ho Jang

—

December 22, 2017 ~

December 8, 2018

Executive Vice President

Non-Registered

Woon-Haeng Cho

—

December 22, 2017 ~

December 8, 2018

Executive Vice President

Non-Registered

Seong-Il Park

—

February 3, 2017 ~

December 3, 2019

Executive Vice President

Non-Registered

Sun-Kyu Kim

—

February 3, 2017 ~

December 8, 2018

Executive Vice President

Non-Registered

Yeong-Bae Kim

—

December 22, 2017 ~

December 8, 2018

Executive Vice President

Non-Registered

Jeong-Jin Heo

—

December 22, 2017 ~

December 8, 2018

Executive Vice President

Non-Registered

Dong-Yeon Lee

9,000

December 22, 2017 ~

December 8, 2018

Executive Vice President

Non-Registered

Hyun-Poong Hong

—

December 22, 2017 ~

December 8, 2018

Executive Vice President

Non-Registered

Chai-Pong Cheong

—

December 22, 2017 ~

December 8, 2018

Executive Vice President

Non-Registered

Chang-Jae Lee

—

December 22, 2017 ~

December 8, 2018

Executive Vice President

Non-Registered

Jeong-Ki Kim

—

December 22, 2017 ~

December 8, 2018

Managing Director

Non-Registered

Tae-Joong Ha

—

February 3, 2017 ~

December 8, 2018

Managing Director

Non-Registered

Jong-In Lee

—

February 3, 2017 ~

December 3, 2019

Managing Director

Non-Registered

Won-Duk Lee

2,000

February 3, 2017 ~

December 8, 2018

Managing Director

Non-Registered

Hong-Sik Choi

—

December 22, 2017 ~

December 8, 2019

Managing Director

Non-Registered

Su-Hyeong Cho

—

December 22, 2017 ~

December 8, 2019

Managing Director

Non-Registered

Hwa-Jae Park

2,000

December 22, 2017 ~

December 8, 2019

Managing Director

Non-Registered

Myung-Hyuk Shin

1,000

December 22, 2017 ~

December 8, 2019

Managing Director

Non-Registered

Dong-Su Choi

—

December 22, 2017 ~

December 8, 2019

Managing Director

Non-Registered

Jong-Suk Jeong

5,005

December 22, 2017 ~

December 8, 2019

Managing Director

Non-Registered

Kyong-Hoon Park

—

December 22, 2017 ~

December 8, 2019

Managing Director

Non-Registered

Jong-Deuk Kim

2,000

December 22, 2017 ~

December 8, 2019

Managing Director

Non-Registered

Dae-Jin Lee

—

February 3, 2017 ~

December 8, 2018

Note 1) The end of the annual general meeting of shareholders to be held in March 2019

Note 2) The end of the annual general meeting of shareholders to be held in March 2020

Note 3) Common stock owned by executives exclude stocks owned through the Employee Stock Ownership Association

Note 4) Term Commencement Date: The date of inauguration for registered directors, the date of appointment for non-registered directors

2.	Employee Status

As of June 30, 2018

(units: persons, millions of Won)

Number of Employees

Average
Tenure
Years

Total
Compensation

Average
Compensation
Per Person

Note

Regular

Contract

Total

(Short time
worker)

Total

(Short time
worker)

Total

14,024

285

583

14,607

16.7

727,405

*	Average years of continuous service excludes contract employees and locally hired employees overseas.

*	Excludes management salaries (sales center head or higher) and overseas salaries.

*	When excluding amount decided in 2017 and paid in 2018 1Q, cumulative compensation is 644,636 million KRW (Average compensation per person is 44 million KRW)

3.	Directors’ Compensation


As of June 30, 2018			(units: persons, millions of Won)
Items	Number of Persons		Total Compensation		Average Compensation Per Director		Note
Registered Directors (excludes outside directors and audit committee members)		3		519		173		—
Outside Directors (excludes audit committee members)		3		92		31		—
Audit Committee Members		3		308		103		—
Total		9		919		102		—

*	Number of persons: includes the outside directors and audit committee members that resigned in 2018

(as of June 30, 2018, there are two registered directors, three outside directors and three members of the Audit Committee)

*	There is no compensation paid to the non-standing director from the KDIC, who has been excluded from number of persons

*	Total compensation: cumulative amount paid from January to June of 2018

VIII.

Related Party Transactions

Extensions of Credit to Major Shareholders, Etc.


As of June 30, 2018				(unit: millions of Won)
Name	Item	Current Balance	Origination Date	Maturity Date
Korea Deposit Insurance Corporation	Loans	250,000	August 29, 2016	August 28, 2018
	Loans	500,000	August 29, 2016	August 28, 2018
	Bonds	29,999	January 22, 2013, etc.	January 22, 2018, etc. *
Woori Investment Bank	Loans	25,000	March 10, 2016	March 4, 2019
Woori Investment Bank	CMA	100,000	July 1, 2017	June 30, 2018
Woori Card	Loans	100,000	March 2, 2018	March 4, 2019
Woori P&S	Loans	12,000	May 25, 2016	May 25, 2026
Woori P&S	Loans	600	November 28, 2017	November 28, 2018

*	repaid at maturity.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


				Woori Bank
				(Registrant)

Date: August 14, 2018				By: /s/ Won Duk Lee
				(Signature)

				Name: Won Duk Lee
				Title: Managing Director