What bank is Woori Bank?

Woori Bank is the Woori Bank in Korea. Korea Woori Bank, founded in 1899, is the second largest national commercial bank in Korea and the only state-owned bank in Korea. Formerly known as Bank of Han Hui, it was renamed Woori Bank in 2002. Woori Bank's business involves banking, securities, leasing and other fields.

Woori Bank has a long history of over 100 years and is the second largest commercial bank in Korea. This bank was formed by the merger of former Korea Commercial Bank and Hanyi Bank. 1999 was called Hanyi Bank, and it was officially renamed Woori Bank in 2002.

What is a commercial bank?

A commercial bank is a bank that aims at profit, raises funds with various liabilities and aims at various assets. Its duty is to act as a credit intermediary through deposits, loans, foreign exchange, savings and other services. The main business scope is to absorb public deposits, issue loans and discount bills. Commercial banks generally have no right to issue money, and their traditional business mainly focuses on deposits and loans.