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 December, 2008

 

 

Woori Finance Holdings Co., Ltd.

(Translation of registrant’s name into English)

 

 

203, Hoehyon-dong, 1-ga, Chung-gu, Seoul, Korea

(Address of principal executive office)

 

 

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      X            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.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes                      No      X    

 

 

 

Report Regarding Investment Decision

 

Investment
Target		    Company Name    Woori Bank    Representative Director    Chong Hwi Lee
   Capital (Won)    3,179,782,900,000    Number of Issued Shares    Common shares:

635,956,580

 

Preferred shares:

none

   Relation to Woori Finance Holdings Co., Ltd. (“WFH”)    Subsidiary    Business Type    Banking and related
businesses

Investment

Details

    Number of Shares to be Acquired    70,000,000 shares of convertible preferred stock
   Investment Amount (Won)    700,000,000,000
   Shareholders’ Equity of WFH (Won)    13,152,076,878,929
   Investment Amount to Shareholders’ Equity (%)    5.32%
   Large Corporation    Yes
Share
Ownership
After
Acquisition		    Number of Common Shares Owned by WFH    635,956,580
   Percentage of Common Shares Owned by WFH (%)    100%
Method of
Investment		    Participate in the capital increase of Woori Bank by subscribing for new shares issued by Woori Bank to its shareholders
Purpose of
Investment		    To improve Woori Bank’s capital adequacy ratio
Scheduled
Date of
Acquisition		    December 26, 2008
Decision Date    December 12, 2008

Other information:

 

  - The scheduled date of acquisition as stated above is the scheduled date of issuance of the new shares.

 

  - Timing and specific details of the transaction described above are subject to change.

Summary of Financial Information of Woori Bank

(unit: Won in millions)

 

     Total Assets    Total
Liabilities		    Shareholders’
Equity		    Capital    Operating
Revenue		    Net Profit

FY2007

    195,281,325    182,976,995    12,304,330    3,179,783    20,788,603    1,777,423

FY2006

    166,405,304    155,108,700    11,296,604    3,179,783    14,876,313    1,642,734

FY2005

    127,193,197    117,506,058    9,687,139    3,179,783    11,422,020    1,425,755

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 Finance Holdings Co., Ltd.
    (Registrant)

Date: December 12, 2008

     By:  

/s/ Byung-Ho Park

    (Signature)
    Name:   Byung-Ho Park
    Title:   Managing Director