ny had a total of 81 general managers who focus on marketing to and managing the accounts of large corporate customers. The company’s strategy for the large corporate banking segment is to develop new products and cross-sell its existing products and services to its core base of large corporate customers. In particular, the company continues to focus on marketing fee-based products and services, such as foreign exchange and trade finance services, derivatives and other risk hedging products, investment banking services and advisory services. Lending Activities: The company provides both working capital loans and facilities loans to its large corporate customers. Consumer Banking The company provides retail banking services to consumers in Korea. The company’s consumer banking operations consist mainly of lending to and taking deposits from its retail customers. The company also provides ancillary services on a fee basis, such as wire transfers. The company classifies its consumer banking customers based on their individual net worth and contribution to its consumer banking operations into four groups, such as high net worth; mass affluent; middle class; and mass market. Lending Activities The company offers various consumer loan products to households and individuals. The company’s consumer loans consist of: General purpose household loans, which are loans made to customers for any purpose (other than mortgage and home equity loans), and include overdraft loans, which are loans extended to customers to cover insufficient funds when they withdraw funds from their demand deposit accounts with the company in excess of the amount in such accounts up to a limit established by the company; and Mortgage loans, which are loans made to customers to finance home purchases, construction, improvements or rentals, and home equity loans, which are loans made to customers secured by their homes to ensure loan repayment. The company also offers various collective housing loans, including loans to purchase property or finance the construction of housing units, loans to contractors to be used for working capital purposes, and loans to educational institutions and non-profit entities to finance the construction of dormitories. General Purpose Household Loans The company’s general purpose household loans might be secured by real estate (other than homes), deposits or securities. Mortgage and Home Equity Lending The company provides customers with various mortgage and home equity loan products that have flexible features, including terms, repayment schedules, amounts and eligibility for loans. Private Banking Operations The company’s private banking operations aim to service its high net worth and mass affluent retail customers. As of December 31, 2014, the company had approximately 131,700 customers who qualified for private banking services. Through its private bankers, the company provides financial and real estate advisory services to its high net worth and mass affluent customers. The company also markets differentiated investment and banking products and services to these segments, including beneficiary certificates, overseas mutual fund products, specialized bank accounts and credit cards. In addition, the company has developed a customer loyalty program for its private banking customers. The company has 582 branches that offer private banking services. These branches are staffed by 594 private bankers, and almost all of the branches are located in metropolitan areas, including Seoul. The company also operates an advisory center in Seoul for its private banking clients, which employs 15 specialists advising on matters of law, tax, real estate, risk assessment and investments. Deposit-Taking Activities The company offers various deposit products that target different customers with different needs and characteristics. These deposit products fall into five categories, such as demand deposits, time deposits, savings deposits, installment deposits, and certificates of deposit. The company also offers deposits in foreign currencies and various specialized deposits products, including
woori bank - spon adr (WF:New York)
Phone: 82 2 2002 3000
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