Woori Financial completed the acquisition of a 74% stake in Aju Capital from Well to Sea Investment for $53m.

Woori Financial, a provider of deposits, loans, funds, foreign exchange transactions, payment guarantees, and securities investment, completed the acquisition of a 74% stake in Aju Capital, a provider of automotive finance and loans, from Well to Sea Investment for $53m. The move is in line with Woori's group-wide efforts to diversify its portfolio and focus more on non-banking areas in order to reduce its heavy reliance on the banking sector.