Korea Post mulls stake in KEB or Woori

Korea Post is considering buying a stake in Woori Bank or Korea Exchange Bank, two of South Korea’s largest lenders, as it seeks to broaden its range of investments and fi nd new areas of business growth.

The possible investments are two of the ideas under consideration as Korea’s postal service agency, which manages USD 65bn in assets, looks to triple its investments in equities next year.

Currently, the state-run Korea Post has about 3 percent of its assets in stocks, or 1.9 trillion won (USD 2.06 billion), through outside fund management fi rms, said Lee Sang-moo, director of the agency’s asset management team.