By Cho Mu-hyun
Woori Financial Group audited its biggest subsidiary Woori Bank for two months, according to officials Wednesday.
The holding company found 30 insolvent loans worth 10 billion won from May 7 to July 6, and plans to punish those who authorized them.
It is rare for a holding company to audit its subsidiary for over 40 days.
The nation’s largest financial group said the move was due to the increasing number of nonperforming loans from Woori Bank compared to its counterparts and the company was concerned that its share prices would decline.