| The head of the Public Fund Oversight Committee (PFOC) said he hopes a sovereign fund from the Middle East will buy a stake in Woori Bank for a long-term investment. Park Sang-yong, a Yonsei University professor leading the eight-member government committee, said the committee is willing to sell part of the government's 48.07 percent stake in Woori to a sovereign fund from the region.
The PFOC is a deliberative body of the Financial Services Commission in charge of privatizing Woori. "As we push for selling our Woori Bank stake to multiple buyers, we thought it would be great to have a Middle East sovereign fund because they are long-term investors that can support the management of the bank," Park told The Korea Times...............................................Full Article: Source
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