Woori Bank gets approval for representative office in Katowice

Woori Bank announced last week that it had won approval from the Polish financial regulatory authority to open a representiative office in the country. According to the bank, Katowice was chosen as the location.

Woori Bank is a bank headquartered in Seoul, South Korea and is one the largest banks is the country in terms of total assets (USD 284 billion, as of 30th of September 2016). It was founded in 1899 and provides commercial, retail and investment banking services to more than 21 million customers through about 1 000 domsetic branches and over 200 overseas offices.

Woori Bank said – quoted by South Korean media – the new representative office would be opened in Katowice by the end of this month and will become part of the bank efforts to establish a bridgehead in Europe. The next step of the financial institution will be to set up a branch in Germany in the middle of 2017.

The bank also informed that the representative office is located near an industrial complex, which is home to assembly lines providing parts for Hyundai Motor and its smaller sister company Kia Motors.

No more details were disclosed so far.