With a history of 105 years, Woori Bank is the oldest among South Korea’s largest 500 companies by sales, according to CEO Score, a website devoted to monitoring local conglomerates.Among the 500, almost half were found to be more than 40 years old, while another 12 percent are over 60 years old. Combined, those aged 20 years or older accounted for 82 percent of the firms.Woori BankIn contrast, just 18 percent were “younger” companies aged 20 years or less. On average, the top 500 companies were

[THE INVESTOR] The government will raise an additional 100 billion won (US$ 85.7 million) to help Korean construction firms take on infrastructure projects abroad. Only July 6, the Ministry of Land, Infrastructure and Transport and the Korea Development Bank signed an agreement for establishing the third Global Infrastructure Fund. The fund is used to invest in overseas infrastructure projects conducted by local construction companies. The Korea Development Bank/ The InvestorThe ministry said th

[THE INVESTOR] Financial Supervisory Service Governor Zhin Woong-seob on July 5 called on foreign financial institutions to cooperate with the government in responding to any fallout from UK’s departure from the European Union. “Cooperation between the supervisory agency and foreign financial companies is needed to minimize negative impact of Brexit,” Zhin said at a meeting with the CEOs of the 15 foreign financial companies’ Korean operations. FSS Governor Zhin Woong-seobHe added that the gover

[THE INVESTOR] State-run Korea Post’s insurance business arm has selected Dominus Investment and Lindman Asia Investment to manage its domestic private equity funds, according to local financial sources on July 4.Korea Post will be investing a total of 60 billion won (US$51.88 million), with Dominuns and Lindman Asia each receiving 30 billion won. Up to 10 different PEFs vied for the Korea Post portfolio, according to the postal company. Dominus Investment mostly invests in convertible bonds, bo