Seoul Puts Woori Up for Sale, Again

There is a North Korean factory with no portraits of the country's late leaders on the walls, no North Korean flags, no hand-painted posters screaming party slogans. Everything from the tissues to the toilets comes from South Korea.

The South Korean government on Monday said it will begin the sale of its 57% stake in Woori Finance Holdings, valued at about $6.02 billion, on Friday or Saturday.

The South Korean government on Monday said it will begin the sale of its 57% stake in Woori Finance Holdings, valued at about $6.02 billion, on Friday or Saturday.

By Emerging Money:Value investing has been around for almost eighty years, but it's a useful tool for even the newest emerging markets. Take Woori Finance (WF), a South Korean bank headquartered in Seoul, which is a case study in value investing. Wikipedia attributes value investing to the ideas of Ben Graham and David Dodd, two prominent economists of the 1920s.

South Korea is expected to start selling a $6 billion majority stake in Woori Finance, a move that could create a Korean bank with the heft to compete on the global stage.

SEOUL (Reuters) - South Korea's top regulator said Sunday it would receive preliminary bids for a 6 trillion won ($5.28 billion) controlling stake in Woori Finance Holdings by July 27, after two previous attempts to privatize the group floundered over a lack of bidding interest. Authorities are under pressure to dispose of the stake before the current president, Lee Myung-bak, ends his term in office early next year. They face an uphill struggle with few domestic firms boasting the capacity for the deal and U.S. ...

SEOUL (Reuters) - South Korea's top regulator said Sunday it would receive preliminary bids for a 6 trillion won ($5.28 billion) controlling stake in Woori Finance Holdings by July 27, after two previous attempts to privatize the group floundered over a lack of bidding interest.

South Korea is not necessarily committed to buying US Global Hawk surveillance drones, a spokesman said on Wednesday, after the Pentagon requested congressional permission for such a sale.