nd trades securities for its own account to maintain adequate sources of liquidity and to generate interest and dividend income and capital gains. The company’s trading and investment portfolios consist primarily of Korean treasury securities and debt securities issued by Korean government agencies, including the KDIC, local governments or government-invested enterprises, and debt securities issued by financial institutions. From time to time, the company also purchases and sells equity securities for its securities portfolios. Derivatives Trading The company offers derivatives products and engages in derivatives trading, primarily for its corporate customers. The company provides and trades various derivatives products principally through sales or brokerage accounts for its customers, including interest rate swaps, options and futures, relating principally to Won interest rate risks; index futures and options, relating to stock market fluctuations; cross currency swaps, relating to foreign exchange risks, largely for Won against U.S. dollars; foreign exchange forwards, swaps, options and futures, relating to foreign exchange risks; commodity derivatives, which the company provides to customers that wish to hedge their commodities exposure; and credit derivatives, which the company provides to financial institutions that wish to hedge existing credit exposures or take on credit exposure. The company’s derivatives operations focus on addressing the needs of its corporate clients to hedge their risk exposure and on hedging its risk exposure resulting from such client contracts. The company also engages in derivatives trading activities to hedge the interest rate and foreign currency risk exposure that arises from its own assets and liability positions. In addition, the company engages in proprietary trading of derivatives, such as index options and futures within its regulated open position limits, for the purpose of generating capital gains. Asset Securitization Services The company is active in the Korean asset-backed securities market. The company participates in asset securitization transactions in Korea by acting as arranger, trustee or liquidity provider. Investment Banking The company engages in investment banking activities in Korea. In addition, the company provides project finance and financial advisory services, in the area of social overhead capital projects, such as highway, port, power and water and sewage projects, as well as structured finance, leveraged buy-out financing, equity and venture financing and mergers and acquisitions financing services. International Banking The company engages in various international banking activities, including foreign exchange services and dealing, import and export-related services, offshore lending, syndicated loans and foreign currency securities investment. These services are provided primarily to its domestic customers and overseas subsidiaries and affiliates of Korean corporations. The company also raises foreign currency funding through its international banking operations. In addition, the company provides commercial banking services to retail and corporate customers in select overseas markets. The principal activities of the company’s overseas branches and subsidiaries are providing trade financing and local currency funding for Korean companies and Korean nationals operating in overseas markets, as well as servicing local customers and providing foreign exchange services in conjunction with the company’s headquarters. On a limited basis, such overseas branches and subsidiaries also engage in the investment and trading of securities of foreign issuers. Woori America Bank operates 17 branches in New York, New Jersey, Maryland, Virginia, Pennsylvania and California; and provides retail and corporate banking services targeted towards the Korean-American community. The company’s subsidiary, Woori Bank China Limited, has branches in Beijing, Shenzhen, Suzhou, Tianjin, Dalian and Chengdu. The company also established a local subsidiary in Russia, ZAO Woori Bank, and it has a branch in St. Petersburg and a representative office in Vladi
woori bank - spon adr (WF:New York)
Phone: 82 2 2002 3000
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