AGREEMENT ON IMPLEMENTATION OF THE MANAGEMENT IMPROVEMENT PLANManagement Improvement Plan Agreement • September 25th, 2003 • Woori Finance Holdings Co LTD
This Agreement on Implementation of the Management Improvement Plan is made and entered into by and between the Korea Deposit Insurance Corporation (“KDIC”), a special entity established and existing under the Depositor Protection Act to protect depositors and maintain the stability of the financial system, and Woori Finance Holdings Co., Ltd. (“WFH”), a financial holding company newly established by KDIC whose all equity stakes in Hanvit Bank, Peace Bank of Korea, Kwangju Bank, Kyongnam Bank, and Hanaro Merchant Bank (collectively, the “Subsidiaries”) was comprehensively transferred to WFH pursuant to Article 31 of the Financial Holding Company Act, by which WFH undertakes to fully implement in good faith the plans specified in the Management Improvement Plans attached hereto as Appendices (“Management Improvement Plans”) so as to become a leading financial institution in Korea by expediting the operational normalization of the Subsidiaries and establishing an efficiently-integrated o
