S Korea to sell 30% of Woori Bank to 7 domestic FIs, to recoup $2.1b

S Korea to sell 30% of Woori Bank to 7 domestic FIs, to recoup $2.1b

Japanese tourists walk in front of a branch of Woori Bank in Seoul August 23, 2010. REUTERS/Lee Jae-Won

South Korea said on Sunday it picked seven domestic financial institutions to buy a combined 29.7 percent stake in Woori Bank, recovering 2.4 trillion won ($2.06 billion) of taxpayer money spent bailing out the bank nearly two decades ago.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter