for a few oligopoly shareholders. It is a method to show the ease of sale by selling the same stake to multiple investors, but it is characterized by the fact that Woori Bank's main shareholders are separated and are vulnerable to external management interference because the shares are split. The Public Fund Management Committee announced that it would plan and proceed with the sale of 30% first. However, there is a question about the willingness to execute because no specific schedule is mentioned. Woori Bank has invested 12.8 trillion won in public funds, of which, in order to recover 4.4 trillion won, which is the unrecovered amount, it must increase by more than 50% of the current stock price. Discussions are underway among scholars about a temporary suspension for the sake of business safety and the banking industry due to the rapid sale. The sale plan, which had been sluggish, changed to the sale of a 4-8% stake, rather than the sale of all stocks including management rights, and the recruitment of preliminary bidders ended on September 23, 2016. Currently, it is known that there are about 18 preliminary bidders, and the total buy-in interest is two or three times the 30% of the planned sale. The government plans to complete the sale of 30% of the stake by December 2016 and complete the privatization by selling all remaining shares in the second half of 2017. In addition, bidding is expected to commence on November 11, 2016, and the final decision will be made on November 13. Sale of shares of Woori Bank Among the eight investors who participated in the bidding, sell a maximum of 6.0% to a minimum of 3.7% of shares to 7 companies including IMM Private Equity, Korea Investment & Securities, Kiwoom Securities, Hanwha Life Insurance, Tong Yang Life Insurance, Eugene Asset Management, and Mirae Asset Management. The first successful bid was sold on January 31, 2017. Business Branches The following lists all major offices and branches. All data are as of the end of January 2018 for Overseas and June 2020 for South Korea. Domestic Number of branches and offices: 862 Overseas United States as Woori America Bank (multiple locations) London, United Kingdom Singapore, Singapore Tokyo, Japan Hanoi, Vietnam; Ho Chi Minh, Vietnam Bahrain, Bahrain Dhaka, Bangladesh Chennai, India Manila, Philippines as Wealthbank (Woori Bank Subsidiary) A Development Bank Dubai, UAE Sydney, Australia Jakarta, Indonesia