North Korean Woori Branch Faces Crunch as Cash Trucks Barred
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Woori Finance Holdings Co., owner of the only South Korean bank with a branch in the North, said the outlet at Gaeseong industrial complex may run out of cash “soon” amid rising military tensions.
The branch may need to halt withdrawals by South Korean businesses that require cash to pay wages there, Woori Bank said in an e-mailed response to questions today, declining to provide a timeframe. Four North Korean employees of the bank didn’t come to work today, and one person who traveled south last week couldn’t return, leaving a staff of two, it said.