IMM Private Equity, Inc., Korea Investment & Securities Co., Ltd., Hanwha Life Insurance Co., Ltd. (KOSE:A088350), Tong Yang Life Insurance Co., Ltd. (KOSE:A082640), Kiwoom Securities Co., Ltd. (KOSE:A039490), Eugene Investment & Securities Co., Ltd. (KOSE:A001200) and Mirae Asset Global Investments Co., Ltd won the auction to acquire a 29.7% stake in Woori Bank Co., Ltd. (KOSE:A000030) from Korea Deposit Insurance Corporation for KRW 2.4 trillion on November 13, 2016. Under the terms of the transaction, IMM Private Equity, Inc. will acquire 6%, Korea Investment & Securities Co., Ltd. will acquire 27.04 million shares, Hanwha Life will acquire 4%, Tong Yang will acquire 4%, Kiwoom will acquire 4%, Eugene will acquire 4% and Mirae will acquire an additional 3.7% stake in Woori. As of November 14, 2016, Board of Tong Yang Life Insurance Co., Ltd. (KOSE:A082640) and Board of Hanwha Life Insurance Co., Ltd. (KOSE:A088350) resolved the transaction. As of December 1, 2016 Tong Yang Life Insurance Co., Ltd. acquired 4% stake, Eugene Investment & Securities Co., Ltd. acquired 4% stake, Mirae Asset Global Investments Co., Ltd acquired additional 3.7% stake and Korea Investment & Securities Co., Ltd. acquired 4% stake in Woori Bank Co., Ltd. (KOSE:A000030). As of December 8, 2016 Hanwha Life Insurance Co., Ltd. acquired 4% stake and Kiwoom Securities Co., Ltd. acquired 4% stake in Woori Bank Co., Ltd. (KOSE:A000030). The transaction is expected to close on November 28, 2016. As per amendment of November 28, 2016 the transaction is expected to close on December 1, 2016. Pursuant to further amendment of December 8, 2016 the transaction is expected to close on December 14, 2016.

IMM Private Equity, Inc., Korea Investment & Securities Co., Ltd., Hanwha Life Insurance Co., Ltd. (KOSE:A088350), Tong Yang Life Insurance Co., Ltd. (KOSE:A082640), Kiwoom Securities Co., Ltd. (KOSE:A039490), Eugene Investment & Securities Co., Ltd. (KOSE:A001200) and Mirae Asset Global Investments Co., Ltd completed the acquisition of 29.7% stake in Woori Bank Co., Ltd. (KOSE:A000030) from Korea Deposit Insurance Corporation on January 18, 2017. IMM Private Equity, Inc. was the last to complete the acquisition, by acquiring additional 2% stake, after receiving approval from the Financial Services Commission, and thereby increased its stake to 6% in Woori Bank. IMM Private Equity financed the acquisition of its stake through own funds.