Alphabiz - BlackRock Becomes Second-Largest Shareholder of Woori Financial Group

Woori Financial Group headquarters building. (Photo courtesy of Woori Bank)

[Alpha Biz= Paul Lee] Stake rises to 7.12%, surpassing National Pension Service

BlackRock, the world’s largest asset manager, has become the second-largest shareholder of Woori Financial Group after significantly increasing its stake.

According to a regulatory filing with the Financial Supervisory Service, BlackRock acquired an additional 7,201,412 shares of Woori Financial Holdings on Jan. 19.

Following the purchase, BlackRock’s ownership rose from 6.07% to 7.12%, an increase of 1.05 percentage points.

The move places BlackRock ahead of the National Pension Service (NPS), which holds a 6.67% stake, making it the second-largest shareholder after the Woori Financial Group Employee Stock Ownership Association (ESOP), the largest shareholder.

BlackRock stated that the purpose of the shareholding is for simple investment.

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)