Edgar Filing: WOORI BANK

Form 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2017

Woori Bank

(Translation of Registrant’s name into English)

51, Sogong-ro, Jung-gu, Seoul, 04632, Korea

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.


		Index

1.		Summary of 2017 3Q Business Report

2.		Exhibit 99.1 Woori Bank Review Report for 2017 3Q (Consolidated)

3.		Exhibit 99.2 Woori Bank Review Report for 2017 3Q (Separate)

Summary of 2017 Third Quarter Business Report

Table of Contents


I. INTRODUCTION OF THE BANK			5

	1.	Overview of the Bank	5

	2.	Capital Structure (Changes in Capital)	9

	3.	Total Number of Authorized Shares	10

	4.	Voting Rights	10

	5.	Dividend Information	11

II. BUSINESS OVERVIEW			12

	1.	Results of Operations	12

	2.	Business Performance by Operation	13

	3.	Funding Sources and Use of Funds	14

	4.	Other Information Necessary for Making Investment Decisions	17

III. FINANCIAL INFORMATION			19

	1.	Condensed Financial Statements (Consolidated)	19

	2.	Condensed Financial Statements (Separate)	21

IV. INDEPENDENT AUDITOR’S OPINION			23

	1.	Independent Auditor’s Opinion	23

	2.	Compensation to the Independent Auditor for the Past Three Years	23

V. CORPORATE GOVERNANCE AND AFFILIATED COMPANIES			24

	1.	About the Board of Directors	24

	2.	Affiliated Companies	25

VI. SHAREHOLDER INFORMATION			26

	1.	Share Distribution	26

	2.	Stock Price and Stock Market Performance	27

VII. DIRECTORS AND EMPLOYEE INFORMATION			28

	1.	Directors	28



	2.	Employee Status	29

	3.	Directors’ Compensation	29

VIII. RELATED PARTY TRANSACTIONS			29

Except where indicated otherwise, financial information contained in this document (including the attached financial statements) has been prepared in accordance with the Korean equivalent of International Financial Reporting Standards (“Korean IFRS”), which differ in certain important respects from generally accepted accounting principles in the United States.

All references to “Woori Bank,” “we,” “us” or the “Bank” are to Woori Bank and, unless the context requires otherwise, its subsidiaries. In addition, all references to “Won” or “KRW” in this document are to the currency of the Republic of Korea.

I.	Introduction of the Bank

1.	Overview of the Bank

a.	History

(1)

Background: Major developments.



		March 27, 2001		Became a subsidiary of Woori Finance Holdings Co., Ltd. (“Woori Finance Holdings”)

		December 31, 2001		Merged with the spun off banking division of Peace Bank of Korea

		January 31, 2002		Transferred the credit card business of Hanvit Bank to Woori Card

		May 22, 2003		Awarded Republic of Korea Corporate Image Grand Prize – Grand Prize for CI and First Prize for Knowledge Management

		July 31, 2003		Merged with Woori Investment Bank

		March 31, 2004		Merged with Woori Credit Card

		September 7, 2004		Selected as 2004 Top Bank of Korea by British magazine “The Bankers”

		November 4, 2005		Opened the first comprehensive financial office in the financial sector, “Woori Finance Plaza”

		May 19, 2006		Established Korea BTL Infrastructure Fund

		December 1, 2006		Officially launched Woori Global Markets Asia Limited

		November 12, 2007		Established a local legal entity in China, Woori Bank China Ltd.

		January 9, 2008		Established a local legal entity in Russia, ZAO Woori Bank

		December 16, 2008		Issued 70,000,000 convertible preferred shares (par value KRW 5,000, issue price KRW 10,000)

		April 1, 2009		Issued 60,000,000 common shares for increase in capital

		December 15, 2009		Awarded Asian Financial Culture Grand Prize “Top Prize in Community Activities”

		March 21, 2010		Woori Bank China Ltd. acquired qualification as a “settlement bank for Renminbi currency in international trade”

		April 18, 2011		Woori Smile Microcredit executed an MOU to jointly support microcredit with the Ministry of Land, Transport and Maritime Affairs



		April 25, 2012		Awarded “2012 Top Bank of Korea” by the Asian Banker for two consecutive years

		August 30, 2012		Awarded 2012 Asia PB Top Award by Asia Economic Daily

		September 25, 2012		Woori Brazil Bank began business

		October 11, 2012		Selected as “Top Financial Institution for Anti-Money Laundering”

		November 7, 2012		Awarded Grand Prize for the First Awards for Protection of Financial Consumers in 2012 by the Korea Economic Daily

		November 29, 2012		Awarded Presidential Award sponsored by the Financial Supervisory Commission for “Anti-Money Laundering”

		December 6, 2012		Awarded “2012 Grand Prize for Small Loan Financing”

		December 13, 2012		Awarded Grand Prize for “2012 Aju Economy and Finance Award”

		January 17, 2013		Awarded Grand Prize for Top Customer Service

		March 27, 2013		Awarded Grand Prize for Woori Bank “Two Chairs” PB services for four consecutive years

		April 1, 2013		Spun off its credit card business

		June 27, 2013		Number 1 in Korean Standard-Service Quality Index (KS-SQI) for three consecutive years

		October 4, 2013		Selected by National Pension Fund as “Top Foreign Exchange Bank”

		December 19, 2013		Awarded “Grand Prize for Small Loan Finance” sponsored by the FSS

		January 3, 2014		Awarded final approval to acquire Indonesia’s Saudara Bank

				115th anniversary of the establishment of the Bank

		January 9, 2014		Awarded “2014 Grand Award for Customer Service”

		February 21, 2014		Awarded Grand Prize for “Republic of Korea Top Bank”

		March 26, 2014		The Bank re-selected as “the main bank for the City of Seoul”

		April 1, 2014		Established business agreement with Ministry of Health and Welfare for promotion of philanthropic culture



		April 17, 2014		Woori Short Term National/Public Bond Fund reached KRW 100 billion in commitments

		April 24, 2014		Became the First domestic bank to issue Basel III subordinated debt in foreign currency (USD 1 billion)

		May 21, 2014		Awarded “Korea’s Top Bank in Money Management” by Asian Banker in 2014

		July 28, 2014		The Bank’s board of directors approves the merger between Woori Finance Holdings and Woori Bank (the “Merger”)

		September 30, 2014		The KDIC announced the sale of the controlling stake (30%) in Woori Bank

		October 10, 2014		The first Korean bank to issue Yuan-denominated bonds

		November 1, 2014		Woori Finance Holdings merged with and into the Bank

		November 10, 2014		Opened office in Vladivostok, Russia

		December 30, 2014		Inaugurated the 49th President of the Bank, Kwang-Goo Lee

				Awarded final approval to merge PT. Bank Woori Indonesia with Saudara Bank

		February 26, 2015		PT. Bank Woori Saudara Indonesia officially launched

		March 31, 2015		Commemoration of the 100 year partnership between Woori Bank and Seoul Metropolitan Government

		May 26, 2015		Launched mobile-only bank, WiBee Bank

				WiBee Bank mobile loan products released

		August 20, 2015		Launched Woori-Samsung Pay Service

		September 19, 2015		Launched first overseas service of WiBee Bank, ‘WiBee Bank Cambodia’

		November 29, 2015		K-Bank is selected as the first internet-only bank (Woori Bank stake 10%)

		January 6, 2016		Launched 1^st bank mobile messenger service, WibeeTalk

		June 24, 2016		First Korean Bank to launch offshore Won-Yuan clearing services

		September 21, 2016		Successfully issued $500 million foreign currency denominated contingent convertible bonds, the first in the form of perpetual bonds in Korea



		November 13, 2016		The FSC announced the KDIC’s successful privatization efforts through the sales of a combined 29.7% ownership interest in Woori Bank to seven financial companies

		December 8, 2016		Selected as 2016 Top Bank of Korea by British magazine “The Bankers”

		December 27, 2016		Achievement of an overseas network comprising 250 branches

		December 28, 2016		The number of users of WiBee platforms, WiBee Talk and WiBee Members, exceeds 3 million

		January 12, 2017		Selected as the 2016 Best Korean Wealth Management Provider by British magazine “World Finance”

		January 16, 2017		Opened Gurgaon Branch, India

		February 5, 2017		Opened office in Katowice, Poland, the first among Korean banks

		March 28, 2017		Launched SORi, the first voice recognition AI banking service in Korea

		June 8, 2017		Awarded “Best Transaction Bank” and “Top Bank in Money Management” by Asian Banker

		June 21, 2017		Launched overseas remittance service with an Indonesian telecommunications company, the first in the Korean financial sector

		June 28, 2017		Received a Presidential Citation for “social enterprise fosterage” from the Ministry of Employment and Labor, the sole recipient from the Korean financial sector.

		July 12, 2017		Joint declaration to create jobs by management and labor force for the first time in the Korean financial sector

		September 8, 2017		Woori Bank Vietnam launched a local credit card in collaboration with Woori Card

b.	Affiliated Companies

(1)

Overview of Business Group

Name of business group: Woori Bank

(2)

Affiliated companies within the business group

As of September 30, 2017

Type

Name of Company

Equity ownership

Controlling
Company

Notes

Company

*Woori Bank

—

FirstTier Subsidiaries

Woori Card

100.00%

Woori Bank

18 companies

*Woori Investment Bank

58.15%

Woori FIS

100.00%

Woori Private Equity Asset Management

100.00%

Woori Finance Research Institute

100.00%

Woori Credit Information

100.00%

Woori Fund Services

100.00%

Korea BTL Infrastructure Fund

99.87%

Woori America Bank

100.00%

*PT. Bank Woori Saudara Indonesia

79.88%

AO Woori Bank

(1share) 100.00%

Woori Bank China Limited

100.00%

Woori Bank Brasil

(1share) 100.00%

Woori Finance Cambodia

100.00%

Woori Finance Myanmar

100.00%

Woori Wealth Bank Philippines

51.00%

Woori Bank Vietnam

100.00%

Woori Global Markets Asia Ltd.

100.00%

Second Tier Subsidiaries

**Woori Blackstone Korea Opportunity Private Equity Fund No.1

—

Woori Private
Equity Asset
Management

3 companies

**Woori Columbus Private Equity Fund No.1

—

TUTU Finance-WCI Myanmar

100.00%

Woori Card

*	Listed Companies (3) : Woori Bank, Woori Investment Bank and PT. Bank Woori Saudara Indonesia

**	Liquidation has been completed, and as of September 30, 2017, equity ownership is 0% but entity is included as an affiliated company due to incomplete dissolution.

Note)

Dissolution of Woori Private Equity Fund was completed as of July 6, 2017, and the entity is excluded from the affiliated companies

2.	Capital Structure (Changes in Capital)


As of September 30, 2017		(units: Won, shares)


Date	Category	Stock Decrease/Increase
Date	Category	Type		Quantity		Par Value		Issue price		Note
4.1.2013	Capital reduction with compensation		Common		153,797,130		5,000		5,000	Capital reduction due to spin off of credit card business
4.1.2013	Capital reduction with compensation		Preferred		15,469,070		5,000		10,000	Capital reduction due to spin off of credit card business
6.5.2013	Exercise of conversion rights		Common		54,530,930		5,000		10,000	Reduction in preferred shares due to exercise of rights to convert convertible preferred shares
6.5.2013	Exercise of conversion rights		Preferred		54,530,930		5,000		10,000	Increase in common shares due to exercise of rights to convert convertible preferred shares
11.3.2014	—		Common		596,690,380		5,000		5,000	Capital reduction due to the merger with Woori Finance Holdings *
11.3.2014	—		Common		676,278,371		5,000		5,000	Increase in common shares (new issuance of shares) due to the merger with Woori Finance Holdings *
10.2.2015	—		Common		278,371		5,000		—	Retirement of shares**

*	Upon consummation of the merger with Woori Finance Holdings, 596,690,380 shares of the Bank were cancelled and 676,278,371 shares were newly issued according to the merger ratio.

On October 2, 2015, 278,371 shares were retired and the total number of shares issued changed to 676,000,000 shares. There was no decrease to Woori Bank’s capital as the number of outstanding shares remained the same. [Related Disclosure : Report on Form 6-K submitted by Woori Bank on September 11, 2015, entitled “Resolution Relating to Retirement of Shares”]

3.	Total Number of Authorized Shares

As of September 30, 2017


				(unit: shares	)
Items	Type
Items	Common Shares		Total
Total number of shares authorized		5,000,000,000		5,000,000,000
Total number of shares issued to date		676,000,000		676,000,000
Number of treasury shares		2,728,774		2,728,774
Number of outstanding shares		673,271,226		673,271,226

*	Upon consummation of the merger with Woori Finance Holdings, 596,690,380 shares of the Bank were cancelled and 676,278,371 shares were newly issued according to the merger ratio.

On September 30, 2015 Woori Bank terminated its trust agreement and acquired 2,913,155 treasury shares which were deposited into Woori Bank’s treasury share account. On October 2, 2015, 278,371 of such acquired shares were retired. [Related Disclosure : Report on Form 6-K submitted by Woori Bank on September 11, 2015, entitled “Resolution Relating to Retirement of Shares”]

4.	Voting Rights

As of September 30, 2017


					(unit: shares	)
Items		Number of stock		Notes
Total number of shares issued	Common Shares		676,000,000		—
Total number of shares issued	Preferred Shares		—		—
Number of shares without voting rights	Common Shares		2,728,774		Note 1	)
Number of shares without voting rights	Preferred Shares		—		—
Number of shares for which voting rights are excluded pursuant to the articles of incorporation	Common Shares		—		—
	Preferred Shares		—		—
Number of shares for which voting rights are limited by law	Common Shares		2,661,978		Note 2	)
Number of shares for which voting rights are limited by law	Preferred Shares		—		—
Number of shares for which voting rights have been restored	Common Shares		—		—
Number of shares for which voting rights have been restored	Preferred Shares		—		—
Number of shares for which voting rights may be exercised	Common Shares		670,609,248		—
Number of shares for which voting rights may be exercised	Preferred Shares		—		—

Note1)

The shares without voting rights are treasury shares. Please see “I. Introduction of the Bank- 3. Total Number of Authorized shares.”

Note2)

Pursuant to Article 16-2(2) of the Banking Act, a non-financial business operator is restricted from exercising voting rights in excess of 4% of the total number of outstanding voting shares of a bank at the AGM held on March 24, 2017

5.	Dividend Information


Items		3Q 2017		2016		2015
Par value per share (Won)			5,000		5,000		5,000
Net profit (Millions of Won)			1,378,507		1,261,266		1,059,157
Earnings per share (Won)			1,855		1,567		1,301
Total cash dividends (Millions of Won)			67,327		269,308		336,636
Total stock dividends (Millions of Won)			—		—		—
Cash dividend payout ratio (%)			4.88		21.35		31.80
Cash dividend yield (%)	Common Shares		0.57		3.01		5.50
Cash dividend yield (%)	Preferred Shares		—		—		—
Stock dividend yield (%)	Common Shares		—		—		—
Stock dividend yield (%)	Preferred Shares		—		—		—
Cash dividend per share (Won)	Common Shares		100		400		500
Cash dividend per share (Won)	Preferred Shares		—		—		—
Stock dividend per share (Won)	Common Shares		—		—		—
Stock dividend per share (Won)	Preferred Shares		—		—		—

*	Based on K-IFRS consolidated financial statements

*	2015 figures include the interim dividend amount (Interim cash dividend per share : 250 Won, Total cash dividends : 168,318 million Won)

II.

Business Overview

1.	Results of Operations

As of September 30, 2017


				(unit: in 100 millions of Won)
Type	3Q 2017		3Q 2016		2016		2015
Operating income		18,019		13,892		15,742		13,516
Non-operating income		1,766		1,001		1,690		3,140
Non-operating expenses		1,770		1,300		1,898		2,136
Ordinary profits		18,016		13,594		15,534		14,519
Income from continuing operations before income tax		18,016		13,594		15,534		14,519
Income tax expense from continuing operations		4,091		2,422		2,759		3,766
Income from discontinued operations		—		—		—		—
Net income		13,924		11,172		12,775		10,754

*	Based on K- IFRS consolidated financial statements

2.	Business Performance by Operation

a.	Deposit Services

As of September 30, 2017


					(unit: in millions of Won)
Type		3Q 2017		2016		2015
Deposits received in local currency	Demand deposits		8,760,841		9,491,680		9,728,839
	Savings deposits		188,292,047		183,723,169		175,598,100
	Mutual funds		34,821		37,128		40,888
	Subtotal		197,087,709		193,251,977		185,367,827
Deposits received in foreign currencies			20,831,057		21,452,943		19,129,193
CDs			5,738,288		3,808,856		2,417,790
Money trusts			1,379,903		1,360,176		1,304,268
Other deposits received			1,307,275		1,146,459		922,749

Total			226,344,233		221,020,411		209,141,826

*	Based on K- IFRS consolidated financial statements

*	Present value discounts are reflected in the relevant accounts

b.	Loan Services

Balances of Loans by Type

As of September 30, 2017


				(unit: in millions of Won)
Type	3Q 2017		2016		2015
Loans in local currency		196,803,960		191,309,481		185,154,851
Loans in foreign currencies		16,449,300		17,855,868		17,910,253
Guarantee payments		24,947		25,197		44,242

Total		213,278,206		209,190,547		203,109,346

*	Based on K- IFRS consolidated financial statements

*	Loans in foreign currencies includes domestic banker’s letter of credit (usance)

c.	Trust Business

As of September 30, 2017

(unit: in millions of Won)

Type

3Q 2017

2016

2015

Trust Funds

Trust Fees

Trust Funds

Trust Fees

Trust Funds

Trust Fees

Money trust

29,908,492

102,391

26,019,180

73,814

23,980,475

49,973

Property trust

13,264,829

3,313

12,714,338

4,803

9,354,003

1,323

Total

43,173,321

105,704

38,733,518

78,617

33,334,478

51,296

*	Trust funds indicate average balances.

3.	Funding Sources and Use of Funds

a.	Sources of Funds

[Bank Accounts]


														(Unit: in millions of Won, %)
Classification	Funding Source	3Q 2017						2016						2015
Classification	Funding Source	Average Balance		Interest Rate		Proportion		Average Balance		Interest Rate		Proportion		Average Balance		Interest Rate		Proportion
Local currency funds	Deposits received in local currency		186,645,181		1.26		66.18		183,440,285		1.38		65.35		169,919,620		1.70		64.76
	Certificates of deposit		4,443,968		1.64		1.58		3,466,223		1.70		1.23		1,879,832		1.92		0.72
	Borrowings in local currency		6,255,375		1.32		2.22		6,709,080		1.45		2.39		6,689,135		1.77		2.55
	Call money in local currency		1,385,826		1.21		0.49		1,159,188		1.32		0.41		1,370,253		1.62		0.52
	Others		19,660,140		2.30		6.97		18,532,241		2.60		6.60		18,944,493		2.95		7.22

	Subtotal		218,390,490		1.36		77.44		213,307,017		1.50		75.98		198,803,334		1.82		75.77

Foreign currency funds	Deposits received in foreign currencies		14,007,690		0.50		4.97		14,838,684		0.47		5.29		11,568,322		0.44		4.41
	Borrowings in foreign currencies		7,126,114		1.33		2.53		8,595,575		0.86		3.06		9,245,073		0.53		3.52
	Call money in foreign currencies		1,145,967		1.13		0.41		1,401,294		0.70		0.50		1,199,484		0.53		0.46
	Debentures in foreign currencies		3,653,810		3.06		1.30		3,950,614		2.54		1.41		4,851,289		2.72		1.85
	Others		535,023		0.12		0.19		531,877		0.29		0.19		650,409		0.66		0.25

	Subtotal		26,468,603		1.09		9.39		29,318,044		0.87		10.44		27,514,577		0.88		10.49

Others	Total capital		20,026,668		—		7.10		19,617,484		—		6.99		18,501,137		—		7.05
	Provisions		351,135		—		0.12		412,553		—		0.15		640,666		—		0.24
	Others		16,772,854		—		5.95		18,070,427		—		6.44		16,907,843		—		6.44

	Subtotal		37,150,656		—		13.17		38,100,463		—		13.57		36,049,647		—		13.74

Total			282,009,749		1.16		100.00		280,725,524		1.23		100.00		262,367,557		1.47		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]


														(Unit: in millions of Won, %)
Type	Funding Source	3Q 2017						2016						2015
Type	Funding Source	Average Balance		Interest Rate		Share		Average Balance		Interest Rate		Share		Average Balance		Interest Rate		Share
Cost	Money trusts		29,908,492		1.70		69.10		26,019,180		1.52		66.98		23,980,475		1.88		71.71
	Borrowings		—		0.00		0.00		0		0.00		0.00		0		0.00		0.00

	Subtotal		29,908,492		1.70		69.10		26,019,180		1.52		66.98		23,980,475		1.88		71.71

Non-cost	Property trusts		13,264,829		—		30.65		12,714,338		—		32.73		9,354,003		—		27.97
	Special reserves		39,075		—		0.09		38,160		—		0.10		37,989		—		0.11
	Others		71,295		—		0.16		72,810		—		0.19		70,265		—		0.21

	Subtotal		13,375,199		—		30.90		12,825,308		—		33.02		9,462,257		—		28.29

Total			43,283,691		—		100.00		38,844,488		—		100.00		33,442,732		—		100.00

b.	Fund Management Performance

[Bank Accounts]


																		(Unit: in millions of Won, %)
Type	Managed Item	3Q 2017								2016								2015
Type	Managed Item	Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share			Average Balance			Interest Rate		Share
Local currency funds	Deposits in local currency		3,361,553			1.27		1.19			3,171,599			1.34		1.13			2,580,842			1.72		0.98
	Marketable securities in local currency		35,550,641			2.04		12.61			33,880,119			2.58		12.07			32,994,958			2.79		12.58
	Loans in local currency		193,086,404			3.05		68.47			189,079,324			3.10		67.35			176,631,188			3.42		67.32
	Guarantee payments		27,651			1.48		0.01			51,254			0.89		0.02			64,533			1.89		0.02
	Call loans in local currency		2,597,256			1.31		0.92			3,581,382			1.41		1.28			2,083,053			1.64		0.79
	Private placed bonds		193,568			5.79		0.07			247,292			5.19		0.09			280,702			5.98		0.11
	Credit card receivables		38			—		0.00			24			—		0.00			—			—		—
	Others		3,808,795			2.01		1.35			4,580,215			2.04		1.63			4,313,781			2.61		1.64
	Bad debt expense in local currency (-)		(1,313,927	)		—		(0.47	)		(1,925,177	)		—		(0.69	)		(2,482,955	)		—		(0.95	)

	Subtotal		237,311,978			2.86		84.15			232,666,033			2.98		82.88			216,466,103			3.31		82.50

Foreign currency funds	Deposits in foreign currencies		3,739,725			0.73		1.33			3,761,286			0.43		1.34			2,872,735			0.28		1.09
	Marketable securities in foreign currencies		2,534,366			1.11		0.90			1,752,884			1.13		0.62			1,375,146			1.51		0.52
	Loans in foreign currencies		10,893,427			2.45		3.86			13,371,873			1.95		4.76			14,206,736			1.65		5.41
	Call loans in foreign currencies		2,417,425			1.19		0.86			2,940,858			0.85		1.05			2,040,819			0.59		0.78
	Bills bought		7,205,063			1.81		2.55			7,110,164			1.53		2.53			6,899,811			1.38		2.63
	Others		48,632			2.27		0.02			13,829			9.72		0.00			17,047			6.96		0.01
	Bad debt expense in foreign currencies (-)		(324,727	)		—		(0.12	)		(312,211	)		—		(0.11	)		(191,224	)		—		(0.07	)

	Subtotal l		26,513,912			1.82		9.40			28,638,685			1.51		10.20			27,221,069			1.37		10.38

Others	Cash		1,185,379			—		0.42			1,169,566			—		0.42			1,116,715			—		0.43
	Property and equipment for business purposes		2,345,333			—		0.83			2,325,893			—		0.83			2,328,130			—		0.89
	Others		14,653,148			—		5.20			15,925,347			—		5.67			15,235,540			—		5.81

	Subtotal		18,183,859			—		6.45			19,420,807			—		6.92			18,680,385			—		7.12

Total			282,009,749			2.58		100.00			280,725,524			2.62		100.00			262,367,557			2.87		100.00

*	Based on K-IFRS separate financial statements

[Trust Accounts]


																(Unit: in millions of Won, %)
Type	Managed Item	3Q 2017							2016							2015
Type	Managed Item	Average Balance			Interest Rate		Share		Average Balance			Interest Rate		Share		Average Balance			Interest Rate			Share
Profit	Loans		26,854			3.59		0.06		23,088			4.21		0.06		19,482			4.05			0.06
	Securities		7,592,321			3.31		17.54		4,701,052			1.93		12.10		3,470,064			(0.57	)		10.38
	Other		23,161,530			1.46		53.51		22,237,766			1.63		57.25		21,231,787			2.00			63.49
	Reserves for bond ratings (-)		(42	)		0.00		0.00		(36	)		0.00		0.00		(68	)		0.00			0.00
	Present value discount (-)		(86	)		0.00		0.00		(215	)		0.00		0.00		(414	)		0.00			0.00
	Subtotal		30,780,577			1.92		71.11		26,961,655			1.68		69.41		24,720,851			1.64			73.92
Non-profit	Subtotal		12,503,114			—		28.89		11,882,833			—		30.59		8,721,881			—			26.08

Total			43,283,691			—		100.00		33,442,732			—		100.00		29,994,637			—			100.00

4.	Other Information Necessary for Making Investment Decisions

a.	Selected Ratios

BIS Capital Adequacy Ratios


							(unit: in 100 millions of Won)
Type	3Q 2017			2016			2015
Equity capital (A)		229,406			229,005			210,514
Risk weighted assets (B)		1,509,550			1,497,281			1,540,709
Capital adequacy ratio (A/B)		15.20	%		15.29	%		13.66	%

*	Based on Basel III standards

*	Based on K-IFRS consolidated financial statements

Liquidity Ratios


	(unit: %)
Type	3Q 2017		2016		2015
Liquidity coverage ratio (LCR)		102.29		109.61		106.67
Foreign currency liquidity coverage ratio(LCR) **		108.79		—		—
Ratio of business purpose premises and equipment		13.34		13.49		14.37

*	Based on K-IFRS consolidated financial statements

*	3Q 2017 figures are based on the applicable monthly average balance, 2016 and 2015 figures are based on ending balances.

**	Foreign currency liquidity coverage ratio : Enforced starting year 2017 (currently required to be 60% or greater, which will annually increase 10% to be 80% or greater in 2019.)

b.	Asset Quality


								(unit: in 100 millions of Won)
Type		3Q 2017			2016			2015
Total loans	Total		2,196,681			2,166,122			2,108,424
	Corporate		1,152,344			1,140,252			1,185,857
	Household		1,044,337			1,025,870			922,567
Sub-standard and below loans Sub-standard and below loan ratio	Total		16,096			21,121			31,009
	Corporate		0.73	%		0.98	%		1.47	%
			13,510			18,237			27,701
			1.17	%		1.60	%		2.34	%
	Household		2,586			2,884			3,308
	Household		0.25	%		0.28	%		0.36	%
Delinquency ratio	Based on total loans (after seasonal adjustment)		0.38	%		0.46	%		0.82	%
	Based on corporate loans (after seasonal adjustment)		(0.39	%)		(0.52	%)		(0.93	%)
			0.52	%		0.61	%		1.39	%
			(0.54	%)		(0.66	%)		(1.57	%)
	Based on household loans (after seasonal adjustment)		0.30	%		0.31	%		0.39	%
	Based on household loans (after seasonal adjustment)		(0.31	%)		(0.33	%)		(0.43	%)

*	Based on K-IFRS separate financial statements

c.	Recent Developments

On November 1, 2014, the Bank merged with its holding company, Woori Finance Holdings, according to the resolution of the board of directors on July 28, 2014, to maximize the possibility of a successful privatization.

New shares of the Bank, the surviving entity, were allotted and delivered to the shareholders of Woori Finance Holdings based on a 1:1.00000000 ratio.

Upon the consummation of the merger, 596,690,380 shares of the Bank were cancelled and 676,278,371 new shares were issued.

The major terms of the Merger are as follows:


Item	Details
Method of Merger	Merger of parent company with and into wholly-owned subsidiary
Merging entities	Woori Bank (surviving entity)
	Woori Finance Holdings (non-surviving entity)
New shares issued in Merger	676,278,371 common shares
Schedule of the Merger	Date of the Merger	November 1, 2014
	Date of registration of Merger	November 3, 2014
	Delivery of share certificates	November 18, 2014
	Date of new listing of shares	November 19, 2014

III.

Financial Information

1.	Condensed Financial Statements (Consolidated)

Summary Consolidated Statement of Financial Position

(The Bank and its Consolidated Subsidiaries)

(unit: in millions of Won)


Classification	3Q 2017			2016			2015
ASSETS
Cash and cash equivalents		6,812,489			7,591,324			6,644,055
Financial assets at fair value through profit or loss		4,609,487			5,650,724			5,132,657
Available-for-sale financial assets		18,624,588			20,817,583			17,170,592
Held-to-maturity financial assets		16,325,482			13,910,251			13,621,640
Loans and receivables		266,972,072			258,392,633			244,842,062
Investments in joint ventures and associates		557,860			439,012			643,861
Investment properties		361,355			358,497			351,496
Premises and equipment		2,490,725			2,458,025			2,471,206
Intangible assets and goodwill		524,914			483,739			419,806
Assets held for sale		2,909			2,342			17,904
Current tax assets		4,105			6,229			6,782
Deferred tax assets		258,031			232,007			210,597
Derivative assets		109,828			140,577			183,128
Net defined benefit assets		5,934			70,938			—
Other assets		215,383			128,846			143,286

Total assets		317,875,162			310,682,727			291,859,072

LIABILITIES
Financial liabilities at fair value through profit or loss		2,468,106			3,803,358			3,460,561
Deposits due to customers		226,344,233			221,020,411			209,141,826
Borrowings		16,314,499			18,769,515			20,033,917
Debentures		27,537,013			23,565,449			21,898,859
Provisions		401,185			428,477			516,601
Net defined benefit liability		26,433			64,666			99,691
Current tax liabilities		249,960			171,192			108,943
Deferred tax liabilities		22,303			22,023			19,379
Derivative liabilities		41,619			7,221			—
Other financial liabilities		23,529,630			21,985,086			16,964,206
Other liabilities		323,213			299,376			305,174

Total liabilities		297,258,194			290,136,774			272,549,157

EQUITY
Owners’ equity:		20,450,563			20,386,160			19,188,472
Capital stock		3,381,392			3,381,392			3,381,392
Hybrid securities		3,017,888			3,574,896			3,334,002
Capital surplus		287,066			286,331			294,259
Other equity		(1,759,299	)		(1,468,025	)		(1,547,303	)
Retained earnings		15,523,516			14,611,566			13,726,122
Non-controlling interests		166,405			159,793			121,443

Total equity		20,616,968			20,545,953			19,309,915

Total liabilities and equity		317,875,162			310,682,727			291,859,072

Number of Consolidated Subsidiaries		68			74			71

Summary Consolidated Statement of Comprehensive Income


(The Bank and its Consolidated Subsidiaries)		(unit: in millions of Won, except per share amounts)


Classification	3Q 2017			3Q 2016			2016			2015
OPERATING INCOME:		1,801,916			1,389,221			1,574,206			1,351,586
Net interest income		3,901,876			3,745,200			5,019,544			4,761,900
Net fees and commissions income		814,569			709,513			937,131			976,796
Dividend income		108,287			137,280			184,510			102,923
Gain on financial instruments at fair value through profit or loss		(97,636	)		(43,766	)		114,387			240,342
Gain on available-for-sale financial assets		148,445			32,772			(1,035	)		(3,281	)
Impairment losses due to credit loss		(501,022	)		(670,843	)		(834,076	)		(966,646	)
General and administrative expenses		(2,647,052	)		(2,411,782	)		(3,478,476	)		(3,150,387	)
Other net operating income (expenses)		74,449			(109,153	)		(367,779	)		(610,061	)
Non-operating income		(330	)		(29,825	)		(20,817	)		100,360
Net income before income tax expense from continuing operations		1,801,586			1,359,396			1,553,389			1,451,946
Income tax expense from continuing operations		409,145			242,217			275,856			376,554
Net income from continuing operations		1,392,441			1,117,179			1,277,533			1,075,392
Net income from discontinued operations		—			—			—			—
Net income		1,392,441			1,117,179			1,277,533			1,075,392
Net income attributable to owners		1,378,507			1,105,915			1,261,266			1,059,157
Profit from continuing operations		1,378,507			1,105,915			1,261,266			1,059,157
Profit from discontinued operations		—			—			—			—
Net income attributable to the non-controlling interests		13,934			11,264			16,267			16,235
Profit from continuing operations		13,934			11,264			16,267			16,235
Profit from discontinued operations		—			—			—			—
Other comprehensive income (loss), net of tax		(88,750	)		(68,145	)		77,894			31,162
Items that will not be reclassified to profit or loss		13,143			(52,788	)		34,162			(78,267	)
Items that may be reclassified to profit or loss		(101,893	)		(15,357	)		43,732			109,429

Total comprehensive income		1,303,691			1,049,034			1,355,427			1,106,554

Comprehensive income attributable to the owners		1,295,391			1,037,516			1,332,614			1,094,870
Comprehensive income attributable to non-controlling interests		8,300			11,518			22,813			11,684
NET INCOME PER SHARE:
Continuing and discontinued operations
Basic earnings per common share		1,855			1,421			1,567			1,301
Continuing operations
Basic earnings per common share		1,855			1,421			1,567			1,301

2.	Condensed Financial Statements (Separate)

Summary Statement of Financial Position


(The Bank)		(unit: in millions of Won)


Classification	3Q 2017			2016		2015
ASSETS
Cash and cash equivalents		5,050,978			6,104,029		5,440,326
Financial assets at fair value through profit or loss		3,014,346			4,076,872		3,569,625
Available-for-sale financial assets		17,482,663			18,105,862		15,869,654
Held-to-maturity financial assets		16,216,094			13,792,266		13,527,452
Loans and receivables		248,183,210			241,508,048		231,083,160
Investments in subsidiaries and associates		4,211,863			3,779,169		3,730,247
Investment properties		344,335			348,393		344,892
Premises and equipment		2,380,564			2,342,280		2,341,506
Intangible assets		296,891			242,230		187,520
Assets held for sale		1,979			2,342		17,904
Current tax assets		—			—		—
Deferred tax assets		195,913			162,211		172,368
Derivative assets		109,385			140,577		183,128
Net defined benefit assets		5,934			70,938		—
Other assets		183,469			96,926		109,126

Total assets		297,677,624			290,772,143		276,576,908

LIABILITIES
Financial liabilities at fair value through profit or loss		2,456,670			3,793,479		3,448,180
Deposits due to customers		215,888,152			211,382,380		201,353,128
Borrowings		15,204,833			16,060,821		18,760,947
Debentures		21,255,612			18,166,057		17,259,749
Provisions		357,000			380,473		467,887
Net defined benefit liability		—			—		45,678
Current tax liabilities		238,134			148,672		77,190
Deferred tax liabilities		—			—		—
Derivative liabilities		23,345			7,221		—
Other financial liabilities		22,298,777			20,827,284		16,111,469
Other liabilities		170,049			153,238		163,362

Total liabilities		277,892,572			270,919,625		257,687,590

EQUITY
Capital stock		3,381,392			3,381,392		3,381,392
Hybrid securities		3,017,888			3,574,896		3,334,002
Capital surplus		269,533			269,533		269,533
Other equity		(102,193	)		138,542		106,016
Retained earnings		13,218,432			12,488,155		11,798,375

Total equity		19,785,052			19,852,518		18,889,318

Total liabilities and equity		297,677,624			290,772,143		276,576,908

*	The valuation method of our equity interest in subsidiaries, associates and joint ventures is the cost method.

Summary Statement of Comprehensive Income


(The Bank)		(unit: in millions of Won, except per share amounts)


Classification	3Q 2017			3Q 2016			2016			2015
OPERATING INCOME:		1,530,907			1,148,374			1,270,501			1,090,372
Net interest income		3,265,366			3,174,046			4,222,447			4,052,479
Net fees and commissions income		706,676			639,914			842,883			856,343
Dividend income		110,180			176,184			220,015			169,009
Gain on financial instruments at fair value through profit or loss		(94,788	)		(54,867	)		97,225			220,282
Gain on available-for-sale financial assets		137,449			57,061			35,525			(7,960	)
Impairment losses due to credit loss		(336,690	)		(540,504	)		(640,443	)		(766,169	)
General and administrative expenses		(2,352,496	)		(2,159,408	)		(3,115,371	)		(2,846,490	)
Other net non-operating income (expenses)		95,210			(144,052	)		(391,780	)		(587,122	)
Non-operating income		11,951			36,394			40,144			144,635
Net income before income tax expense		1,542,858			1,184,768			1,310,645			1,235,007
Income tax expense		346,024			219,688			245,043			300,418
Net income from continuing operations		1,196,834			965,080			1,065,602			934,589
Net income from discontinued operations		—			—			—			—
Net income		1,196,834			965,080			1,065,602			934,589
Other comprehensive income (loss), net of tax		(32,577	)		(51,244	)		32,526			(8,583	)
Items that will not be reclassified to profit or loss		12,868			(52,105	)		33,191			(73,591	)
Items that may be reclassified to profit or loss		(45,445	)		861			(665	)		65,008

Total comprehensive income		1,164,257			913,836			1,098,128			926,006

NET INCOME PER SHARE:
Basic and diluted net income per share		1,585			1,212			1,277			1,116

IV.

Independent Auditor’s Opinion

1.	Independent Auditor’s Opinion


	3Q 2017	2016	2015
Auditor	Deloitte Anjin LLC	Deloitte Anjin LLC	Deloitte Anjin LLC
Auditor’s Opinion	(1)	Unqualified Opinion	Unqualified Opinion

(1)

In its review report attached to this report, Deloitte Anjin LLC has stated that nothing had come to their attention that caused them to believe that the accompanying consolidated and separate interim financial statements of the Bank are not presented fairly in all material respects, in accordance with Korean IFRS.

2.	Compensation to the Independent Auditor for the Past Three Years

a.	Audit Services


			(units: Won, hours)
Term	Auditor	Description	Fee	Total Time
3Q 2017	Deloitte Anjin LLC	Closing audit	KRW 1,786 million		—
		Interim audit (including internal accounting management system)			—
		3Q review			4,880 hours
		1H review			4,061 hours
		1Q review			4,020 hours
2016	Deloitte Anjin LLC	Closing audit	KRW 1,561 million		7,515 hours
		Interim audit (including internal accounting management system)			4,210 hours
		3Q review			4,991 hours
		1H review			3,526 hours
		1Q review			3,920 hours
2015	Deloitte Anjin LLC	Closing audit	KRW 1,516 million		7,659 hours
		Interim audit (including internal accounting management system)			4,350 hours
		3Q review			3,785 hours
		1H review			3,836 hours
		1Q review			3,778 hours

b.	Non-Audit Services


Term	Date of Execution of Agreement		Description of Service	Service Term	Fees
3Q 2017		Mar. 15, 2017	Tax adjustment	Each quarter and end of term	KRW 120 million
3Q 2017		Mar. 15, 2017	PCAOB and SOX Auditing	May 1, 2017 ~ April 30, 2018	KRW 1,288 million
2016		Mar. 28, 2016	Tax adjustment	Each quarter and end of term	KRW 115 million
		Mar. 28, 2016	PCAOB and SOX Auditing	May 1, 2016 ~ Apr. 30, 2017	KRW 1,127 million
		Mar. 23, 2016	Issuance of GMTN-related comfort letter	May 2016	USD 100,000
2015		May 14, 2015	Review of Japanese F/S related to Samurai bonds	May and Sep. 2015	KRW 74 million
		May 14, 2015	Issuance of GMTN-related comfort letter	May 2015	USD 110,000
		Apr. 03, 2015	Tax adjustment	Each quarter and end of term	KRW 110 million
		Apr. 03, 2015	PCAOB and SOX Auditing	May 1, 2015~ Apr. 30, 2016	KRW 1,094 million
		Jan. 05, 2015	Issuance of GMTN-related comfort letter	Jan. 2015	USD 60,000

V.	Corporate Governance and Affiliated Companies

1.	About the Board of Directors

Composition of the Board of Directors

The board of directors consists of standing directors, outside directors and non-standing directors.

Committees under the Board of Directors

We currently have the following management committees serving under the board of directors:

(a)

Audit Committee

(b)

Board of Directors Management Committee

(c)

Risk Management Committee

(d)

Compensation Committee

(e)

Committee for Recommending Officer Candidates

As of September 30, 2017


Name of Committee	Composition	Names of Members
Audit Committee	Two outside directors One standing director	Sang-Hoon Shin (outside director) Dong-Woo Chang (outside director) Jung-Sik Oh (standing director)

Board of Directors Management Committee	One standing director Five outside directors One non-standing director	Kwang-Goo Lee (standing director) Sung-Tae Ro (outside director) Sang-Hoon Shin (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Dong-Woo Chang (outside director) Kwang-Woo Choi (non-standing director)

Risk Management Committee	Three outside directors One non-standing director	Sung-Tae Ro (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Kwang-Woo Choi (non-standing director)

Compensation Committee	Five outside directors One non-standing director	Sung-Tae Ro (outside director) Sang-Hoon Shin (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Dong-Woo Chang (outside director) Kwang-Woo Choi (non-standing director)

Committee for recommending audit committee member candidates	One standing director Five outside directors	Kwang-Goo Lee (standing director) Sung-Tae Ro (outside director) Sang-Hoon Shin (outside director) Sang-Yong Park (outside director) Zhiping Tian (outside director) Dong-Woo Chang (outside director)

Three committees which had previously existed (i.e., Committee for recommending officer candidates, Committee for recommending outside director candidates, Committee for recommending audit committee member candidates) were integrated into a single committee (Committee for recommending officer candidates) through an amendment to the Articles of Incorporation at the EGM held on December 30, 2016 [Related Disclosure : Report on Form 6-K, submitted by Woori Bank on December 30, 2016, entitled “Results of the Extraordinary General Meeting of Shareholders of Woori Bank”]

2.	Affiliated Companies (as of September 30, 2017)

LOGO

The liquidation of Woori Blackstone Korea Opportunity Private Equity Fund No. 1 and Woori Columbus Private Equity Fund No. 1 has been completed, and as of September 30, 2017, equity ownership in each entity is 0%; but due to incomplete dissolution, the two entities are included as affiliated companies.

Note) Dissolution of Woori Private Equity Fund was completed as of July 6, 2017, and the entity is excluded from the affiliated companies.

VI.

Shareholder Information

1.	Share Distribution

a.	Share Information of the Largest Shareholder and Specially Related Parties


As of September 30, 2017		(units: shares, %)


				Shares Held
				Beginning balance				Ending balance
Name	Relation	Type		Stock		Share		Stock		Share		Notes
KDIC( Korea Deposit Insurance Corporation)	Largest Shareholder		Common		157,977,161		23.37		125,205,147		18.52		—
Total			Common		157,977,161		23.37		125,205,147		18.52		—
			Others		—		—		—		—

b.	Changes in the Largest Shareholder


As of September 30, 2017		(units: shares, %)

Change of Date

Largest Shareholder

Stock Held

Share

Notes

January 1, 2014

Woori Finance Holdings

596,690,380

100.00

November 1, 2014

KDIC

385,285,578

*56.79

Merger date of

Woori Finance Holdings and Woori Bank

December 8, 2014

KDIC

345,142,556

51.04

Sale of stake

October 2, 2015

KDIC

345,142,556

51.06

Change in the share ownership ratio

due to the retirement of shares

December 1, 2016

KDIC

239,097,161

35.37

Sales of stakes to

Tongyang Life Insurance,

Eugene Asset Management,

Mirae Asset Global Investments and Korea Investment & Securities

December 8, 2016

KDIC

185,017,161

27.37

Sales of stakes to

Kiwoom Securities and

Hanwha Life Insurance

December 14, 2016

KDIC

157,977,161

23.37

Sale of stake to IMM PE

January 31, 2017

KDIC

144,457,161

21.37

Sale of stake to IMM PE

May 11, 2017

KDIC

143,857,161

21.28

Exercise of Shinhan Investment Corp.’s call option (0.09%)

June 16, 2017

KDIC

132,897,007

19.66

Exercise of call option of Employee Stock Ownership Association of Woori Bank (1.62%)

June 22, 2017

KDIC

131,697,007

19.48

Exercise of NH Investment & Securities’ call option (0.18%)

June 27, 2017

KDIC

130,697,007

19.33

Exercise of NH Investment & Securities’ call option (0.15%)

June 28, 2017

KDIC

128,185,796

18.96

Exercise of NH Investment & Securities’ call option ( 0.37%)

July 3, 2017

KDIC

126,935,796

18.78

Exercise of Hyosung Capital’s call option (0.18%)

September 28, 2017

KDIC

125,205,147

18.52

Exercise of call option of Employee Stock Ownership Association of Woori Bank (0.26%)

Note)

KDIC : Korea Deposit Insurance Corporation

*	Upon the consummation of the merger of Woori Finance Holdings with and into Woori Bank on November 1, 2014, 596,690,380 shares of the Bank were cancelled and 676,278,371 new shares were issued.

c.	Share Ownership of More Than 5%


As of September 30, 2017 (unless otherwise indicated)			(units: shares, %)
Name	Shares					Notes
Name	No. of shares		Percentage of shareholding			Notes
Korea Deposit Insurance Corporation		125,205,147		18.52	%
National Pension Service		63,902,005		9.45	%		Note1	)
Nobis1, Inc. (IMM PE)		40,560,000		6.00	%		—
Employee Stock Ownership Association		36,153,488		5.35	%		Note2	)

Note1) Based on the disclosure of NPS (National Pension Service) on October 10, 2017, as of July 20, 2017, which may differ from the current actual number of shares

Note2) Based on the account of the Employee Stock Ownership Association (the total of all members)

2.	Stock Price and Stock Market Performance

a.	Domestic Stock Market


										(units: Won, shares)
Type		April 2017		May 2017		June 2017		July 2017		August 2017		September 2017
Common Stock	High		15,000		16,350		18,600		19,950		19,200		18,550
	Low		13,050		14,850		15,300		18,350		18,200		17,050
	Average		14,060		15,528		16,995		18,788		18,655		17,648
Monthly Trade Volume	High		3,298,803		3,958,143		13,105,480		3,304,943		6,655,577		2,954,925
	Low		974,506		732,429		1,153,280		896,910		629,366		907,532
	Monthly Total		31,127,285		33,003,973		65,580,274		36,423,732		36,919,458		31,593,313

*	Source: KRX KOSPI Market

*	Share prices are based on closing prices.

b.	Foreign Stock Market (NYSE)


								(units: US Dollars, Won, ADRs)
Type		April 2017		May 2017		June 2017		July 2017		August 2017		September 2017
ADR	High		40.28		43.81		48.70		53.50		51.85		49.53
	Low		35.21		39.74		41.50		48.25		47.80		44.49
	Average		37.12		41.50		45.17		50.15		49.72		46.31
Won Conversion	High		45,536		49,702		55,498		59,711		58,170		55,760
	Low		39,410		44,934		46,554		55,453		54,238		50,340
	Average		42,055		46,709		51,052		56,892		56,225		52,405
Monthly Trade Volume	High		17,800		17,500		13,400		65,900		40,800		38,500
	Low		1,200		1,300		2,000		2,600		3,100		5,600
	Monthly Total		73,300		181,200		125,500		293,200		314,500		305,600

*	Source: standard trading rate (daily and monthly average) (Seoul Money Brokerage, www.smbs.biz)

*	One ADR represents three common shares.

*	Share prices are based on closing prices.

VII.

Directors and Employee Information

1.	Directors

As of September 30, 2017

Position

Name

Common
Stock
Owned

Expiration of Term

President & CEO

Registered

Standing

Kwang-Goo Lee

26,251

Note 1 )

Standing Member of

Audit Committee

Registered

Standing

Jung-Sik Oh

1,350

Note 1 )

Outside Director

Registered

Non-Standing

Sung-Tae Ro

—

December 30, 2018

Outside Director

Registered

Non-Standing

Sang-Hoon Shin

10,000

December 30, 2018

Outside Director

Registered

Non-Standing

Sang-Yong Park

—

December 30, 2018

Outside Director

Registered

Non-Standing

Zhiping Tian

—

December 30, 2018

Outside Director

Registered

Non-Standing

Dong-Woo Chang

—

December 30, 2018

Non-standing Director

Registered

Non-Standing

Kwang-Woo Choi

—

Note 2)

Executive Vice President

Non-Registered

Standing

Ki-Myung Nam

8,168

December 8, 2017

Executive Vice President

Non-Registered

Standing

Tae-Seung Sohn

23,127

December 8, 2017

Executive Vice President

Non-Registered

Standing

Won-Jai Jeong

13,560

December 8, 2018

Executive Vice President

Non-Registered

Standing

Hong-Hee Kim

21,940

December 8, 2017

Executive Vice President

Non-Registered

Standing

Jung-Hoon Choi

21,649

December 3, 2017

Executive Vice President

Non-Registered

Standing

Jae-Hyun Cho

12,000

December 8, 2017

Executive Vice President

Non-Registered

Standing

Seong-Il Park

15,914

December 8, 2017

Executive Vice President

Non-Registered

Standing

Sun-Kyu Kim

15,425

December 8, 2017

Executive Vice President

Non-Registered

Standing

Hyun-Seok Shin

17,525

December 8, 2017

Executive Vice President

Non-Registered

Standing

An-Ho Jang

21,526

December 8, 2017

Executive Vice President

Non-Registered

Standing

Woon-Haeng Cho

27,345

December 8, 2017

Executive Vice President

Non-Registered

Standing

Kwang-Seok Kwon

8,057

December 8, 2017

Managing Director

Non-Registered

Standing

Yeong-Bae Kim

9,963

December 3, 2017

Managing Director

Non-Registered

Standing

Jeong-Jin Heo

13,983

December 3, 2017

Managing Director

Non-Registered

Standing

Dong-Yeon Lee

16,434

December 3, 2017

Managing Director

Non-Registered

Standing

Hyun-Poong Hong

8,110

December 8, 2018

Managing Director

Non-Registered

Standing

Tae-Joong Ha

12,497

December 8, 2018

Managing Director

Non-Registered

Standing

Chai-Pong Cheong

12,144

December 8, 2018

Managing Director

Non-Registered

Standing

Jong-In Lee

12,467

December 8, 2018

Managing Director

Non-Registered

Standing

Won-Duk Lee

—

December 8, 2018

Managing Director

Non-Registered

Standing

Chang-Jae Lee

15,938

December 8, 2018

Managing Director

Non-Registered

Standing

Jeong-Ki Kim

26,281

December 8, 2018

Managing Director

Non-Registered

Standing

Dae-Jin Lee

27,625

December 8, 2018

Note 1) End of Term : The end of the AGM to be held in Mar. 2019

Note 2) End of Term : The end of the AGM to be held in Mar. 2018

2.	Employee Status


As of September 30, 2017		(units: persons, millions of Won)

Number of Employees

Average
Tenure
Years

Total
Compensation

Average
Compensation
Per Person

Note

Regular

Contract

Total

(Short time
worker)

Total

(Short time
worker)

Total

14,299

209

664

122

14,963

16.4

1,040,028

Note1

)

*	Average years of continuous service excludes contract employees and locally hired employees overseas.

*	Excludes management salaries (sales center head or higher) and overseas salaries.

Note 1) When excluding amounts that were determined in 2016 but paid in 1Q 2017, total compensation is KRW 962,622 million (Average compensation per person is KRW 64 million)

3.	Directors’ Compensation


As of September 30, 2017		(units: persons, millions of Won)


Items	Number of Persons		Total Compensation		Average Compensation Per Director		Note
Registered Directors (excludes outside directors and audit committee members)		2		775		388		—
Outside Directors (excludes audit committee members)		3		147		49		—
Audit Committee Members		4		487		122		—

Total		9		1,409		157		—

*	Number of persons includes the outside directors and audit committee members that resigned in 2017 (as of September 30, 2017, there are two registered directors, three outside directors and three members of the Audit Committee)

*	There is no compensation paid to the non-standing director from the KDIC, who has been excluded from the number of persons

*	Total compensation equals the aggregate amount paid from January to September of 2017

VIII.

Related Party Transactions

Extensions of Credit to Major Shareholders, Etc.


As of September 30, 2017		(unit: millions of Won)

Name

Item

Current
Balance

Origination
Date

Maturity
Date

Korea Deposit Insurance Corporation

Loans

250,000

August 29, 2016

August 28, 2018

Loans

500,000

August 29, 2016

August 28, 2018

Bonds

49,993

January 22, 2013, etc.

January 22, 2018, etc.

Woori Investment Bank

Loans

25,000

March 10, 2016

March 2, 2018

CMA

100,000

July 1, 2017

June 30, 2018

Woori Card

Loans

250,000

April 1, 2013

March 2, 2018

Woori P&S

Loans

14,289

May 25, 2016

May 25, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


		Woori Bank
		(Registrant)

Date: November 14, 2017		By: /s/ Hyun Seok Shin
		(Signature)
		Name : Hyun Seok Shin
		Title : Executive Vice President