South Korea suspends Woori Fin stake auction

SEOUL (BestGrowthStock) – South Korea has put on hold its prolonged $6 billion-plus stake sale in Woori Finance Holdings (053000.KS: ).

“We agreed to discuss an alternative pre-emptively,” Min Sang-kee, co-chairperson of the Public Fund Oversight Committee said on Friday.

The suspension of plans to privatize the country’s No.1. financial service group by assets came after two strong candidates, groups of Woori employees and customers, pulled out of the race.

(Reporting by Ju-min Park; Editing by David Chance)

South Korea suspends Woori Fin stake auction