Woori Bank London Center Secures Derivatives Sales License

Woori Bank's London Trading Center has obtained the necessary license from UK financial authorities for client-facing derivatives sales and securities management.

Woori Bank began establishing the London Trading Center in January last year to enhance foreign investors' access to South Korea's foreign exchange and capital markets and to broaden its global revenue base. After submitting the license application to UK financial authorities in July of the same year, the center received final approval after approximately 10 months of local regulatory compliance and internal control system establishment.

The London Trading Center will serve as a hub for attracting foreign investment in the Korean won, coinciding with the inclusion of Korean government bonds in the World Government Bond Index (WGBI). Leveraging its bond management functions, it will support package transactions combining Korean won bond investment and currency hedging, and diversify revenue streams by offering foreign exchange and interest rate derivative services to Korean companies operating in the UK.

For stable center operations, Woori Bank has implemented a job system separating front, middle, and back offices, and has established risk monitoring standards. Following the completion of internal procedures, full-scale operations will commence this month.