2003 4Q Fact Book by wanghonghx

VIEWS: 4 PAGES: 36

									2003 Fact book



                    0

  www.woorifg.com
                                                                                                                                                                                       www.woorifg.com




      Table of Contents


      Holding Company Level (Consolidated FS)                                                              Non-banking Subsidiaries

      Condensed Balance Sheet                                                                              Woori Credit Card
      Condensed Income Statement                                                                           Credit Card Asset
      Summary of Income Statement                                                                          Woori Securities and Woori Investment Trust

      Banking Subsidiaries                                                                                 Asset Quality

      Combined Commercial Banks                                                                            Asset Quality Summary
      Woori Bank                                                                                           Top 30 Exposures
      Kyongnam Bank                                                                                        Top 20 NPLs and Precautionary Loans
      Kwangju Bank                                                                                         Exposure to Major Groups
      Interest Income/Non Interest Income                                                                  NPL/ABS Status
      NIM & Spread /Deposit Breakdown                                                                      NPLs sold to KAMCO w/ Recourse
      Loan Breakdown
      Asset Quality and Loan Loss Reserve
      Delinquency                                                                                          Woori Financial Group IR Officer Lists

Disclaimer
This material contains forward-looking statements, which relate to Woori Financial Group's business and results of operations and reflect its current views with respect to future events and financial
performance. These statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those anticipated. Although Woori Financial Group believes the
expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. Woori Financial Group undertakes no
obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
We are currently preparing our financial statements for 2003 in accordance with Korean GAAP. We expect to release audited financial statements in March 2004. This material contains certain preliminary
data for us which have not been audited. Although we expect that our audited financial information will not differ materially from that preliminary data, we cannot assure you that this will be the case, and
our final audited information may differ substantially from our preliminary data.




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Condensed Balance Sheet


>>> Balance Sheet

(Won in billions)                        2003 YE            2003 3Q   2003 2Q   2003 1Q   2002 YE                         2003 YE   2003 3Q   2003 2Q   2003 1Q       2002 YE
                                                                                                    Deposits               89,078    84,071    85,606    82,169        78,917
Cash & Due from Banks                        6,472            5,530     5,720     5,116     6,569
                                                                                                    Borrowings             12,813    13,312    13,604    14,054        13,840
                                                                                                    Debentures             12,195    11,355    10,921    11,786        10,793
Trading Securities                           2,754            3,348     3,565     3,164     2,944
                                                                                                    Others                  9,014     7,582     6,420     7,224         5,979

Investment Securities                      24,324            22,740    23,680    26,268    23,509   Total Liabilities     123,100   116,320   116,551   115,233       109,529



Loans                                      86,033            82,756    81,563    78,043    73,604
                                                                                                    Capital Stock           3,878     3,878     3,878     3,839         3,839
Fixed Assets                                 2,735            2,714     2,679     2,646     2,796   Capital Surplus           58        28        28        28            25
                                                                                                    Retained Earnings       1,152     1,454     1,591     1,274         1,151
Others                                       6,482            5,264     5,513     5,533     5,422   Capital Adjustment       415       441       440       159            55
                                                                                                    Minority Interests       196       232       232       237           245

                                                                                                    Total Shareholders’     5,699     6,032     6,169     5,537         5,315
                                                                                                    Equity



Total Assets                              128,798           122,352   122,721   120,770   114,844                         128,798   122,352   122,721   120,770       114,844



* 775,504,910 shares outstanding, as of December 31, 2003




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Condensed Income Statement


>>> Income Statement
                                                                           Quarterly
                                   2003 FY   2002 FY
(Won in billions)                                      2003 4Q   2003 3Q               2003 2Q     2003 1Q

   Operating Revenue               10,442     9,624     2,601     2,585                 2,667        2,589

      Interest Income               7,567     6,496     1,921     1,835                 2,016        1,795

      Fee Income                    1,150     1,455       285       251                   297         317

      Others                        1,726     1,673       399       499                   354         473

   Operating Expenses              10,332     8,909     2,706     2,695                 2,520        2,411

      Interest Expense              3,845     3,756       936       964                   975         970

      Fees Paid                       251       287        64        59                    65          63

      Other Operating Expenses      4,014     2,883     1,059     1,139                   951         866

      SG&A                          1,974     1,844       586       472                   469         447

      Others                          249       138        64        62                    61          63

   Operating Income                   110       715      (105)     (110)                  147         178

      Non-Operating Income (Net)      121      (260)     (208)       42                   243          45

   Ordinary Income                    231       455      (313)      (68)                  390         223

      Extraordinary Income              0         0         0         0                     0           0

      Corporate Taxes                 179      (159)      (10)       67                    73          49

   Net Income                          53       614      (303)     (135)                  317         174

      Minority Interests                4        22         0        (2)                   (1)          7

   Consolidated Net Income             57       592      (303)     (137)                  316         181




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Summary of Consolidated Income Statement

>>> 2003 FY
                                    Banking Subsidiaries
                                                                                                                                  Total
(Won in billions)                Woori     Kyongnam        Kwangju   Subtotal   Credit Cards    Sec          ITM          Consolidation
2003 FY
Operating Revenue (Net)         3,405           354          258     4,017             520     100             7               4,728
SG&A                            1,453           148          125     1,725              64      93             5               1,974
Non-Operating Income             166             (45)          (8)     113              34     (20)            0                  125
Gain on Sale of NPL               (17)            (6)          (2)      (25)            41       0             0                   17
Impairment Loss from Inv Sec.     (38)           (44)         (12)      (94)            (7)    (20)            0                 (119)
Others                           221               5            6      232              (0)     (0)            0                  227
Income before Provisioning      2,118           162          125     2,405             491     (13)            2               2,880
Loan Loss Provision              689            107           93       888          1,690        4            (0)              2,645
Corporate Tax                     97             (30)         (25)       42            121      (4)            1                  179
Net Income                      1,332            85           57     1,474          (1,321)    (13)            1                   57



>>> 2002 FY
                                    Banking Subsidiaries
                                                                                                                                  Total
(Won in billions)                Woori     Kyongnam        Kwangju   Subtotal   Credit Cards    Sec Merchant Bank   ITM   Consolidation
2002 FY
Operating Revenue (Net)         2,880           309          256     3,445             520     140           69      8         4,265
SG&A                            1,309           132          109     1,550              47      98           14      5         1,844
Non-Operating Income               (7)           (26)         (11)      (44)          (172)     (1)          20      0           (282)
Gain on Sale of NPL               (14)            (8)           0       (22)             3       0           49      0            (53)
Impairment Loss from Inv Sec.    (246)           (25)          (4)     (274)           (91)     (5)          (25)    0           (392)
Others                           253               7           (8)     253             (84)      5            (4)    0            163
Income before Provisioning      1,563           152          136     1,851             301      41           75      3         2,138
Loan Loss Provision              967             69           61     1,098             452       0           86      0         1,705
Corporate Tax                    (184)             0            0      (184)             0      12             0     1           (159)
Net Income                       780             82           75       937            (151)     29           (11)    2            592




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Summary of Consolidated Income Statement

>>> 2003 4Q (Quartely)
                                              Banking Subsidiaries
                                                                                                                                     Total
(Won in billions)                          Woori     Kyongnam        Kwangju   Subtotal   Credit Cards   Sec   ITM           Consolidation
2003 4Q
Operating Revenue (Net)                     874           108           63     1,046             109     25    (31)               1,221
SG&A                                        435            46           37       518              18     22     (3)                  586
Non-Operating Income                       (154)           (37)         (12)     (204)             5     (3)   (41)                 (208)
Gain on Sale of NPL                          (6)             1           (2)       (7)           (41)    (0)     0                   (19)
Impairment Loss from Inv Sec.              (178)           (41)         (12)     (230)             0     (1)   (33)                 (237)
Others                                       29              2            2        33              2     (3)    (7)                   74
Income before Provisioning                  285            26           14       324              84     (1)   (69)                  427
Loan Loss Provision                         127            24           18       169             527      2    (30)                  740
Corporate Tax                               (17)            (0)           3       (14)           (12)    (2)     0                   (10)
Net Income                                  175              2           (7)     169            (431)    (2)   (39)                 (303)



>>> 2003 3Q (Quartely)
                                              Banking Subsidiaries
                                                                                                                                     Total
(Won in billions)                          Woori     Kyongnam        Kwangju   Subtotal   Credit Cards   Sec   ITM           Consolidation
2003 3Q
Operating Revenue (Net)                     803            86           65       954             112     24      4                1,101
SG&A                                        354            34           28       416              13     21      3                   472
 * Major intercompany
Non-Operating Income            transaction adjustments include 1) 600 bn won 90 goodwill 0
                                              94         (2)        (2)       of          generated from sales of Woori Bank credit card
                                                                                                    (4)         0                   39
Gain on Sale of NPL                         (15)            (7)           0       (22)            41      0     (0)                   (9)
Impairment Loss from Inv Sec.               (29)             1            0       (28)            (7)    (4)    (1)                  (51)
Others                                      139              3           (2)     140               8      0      0                   100
Income before Provisioning                  543            50           34       627             112     (1)     1                   668
Loan Loss Provision                         178            31           25       234             521      1      0                   738
Corporate Tax                                22             (4)         (12)        6             71     (0)     0                    67
Net Income                                  343            23           22       387            (480)    (2)     1                  (137)




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Summary of Consolidated Income Statement


>>> 2003 2Q (Quartely)
                                   Banking Subsidiaries
                                                                                                                                Total
(Won in billions)               Woori     Kyongnam        Kwangju   Subtotal   Credit Cards   Sec Merchant Bank   ITM   Consolidation
2003 2Q
Operating Revenue (Net)         955             83           66     1,104             160     29           37      3         1,331
SG&A                            342             36           29       407              19     23             3     1            469
Non-Operating Income            203              (2)           4      205             (10)      2          42      0            242
Gain on Sale of NPL              25              (0)           0        25              0       0            0     0             25
Impairment Loss from Inv Sec.   118              (5)           0      113               0      (2)         38      0            136
Others                           60               3            4        67             (8)      4            7     0             54
Income before Provisioning      816             46           41       902             131       8          73      1         1,104
Loan Loss Provision             171             34           19       224             448      (1)         38     (0)           716
Corporate Tax                    35             (27)          (9)       (1)            62       4            0     0             73
Net Income                      610             38           31       679            (380)      4          36      0            316



>>> 2003 1Q (Quartely)
                                   Banking Subsidiaries
                                                                                                                                Total
(Won in billions)               Woori     Kyongnam        Kwangju   Subtotal   Credit Cards   Sec Merchant Bank   ITM   Consolidation
2003 1Q
Operating Revenue (Net)         774             76           64       914             139     23            (3)    1         1,075
SG&A                            322             33           30       385              13     26             3     1            447
Non-Operating Income             23              (3)           2        22             39     (15)          (1)    0             52
Gain on Sale of NPL              (21)             0            0       (21)            41       0            0     0             20
Impairment Loss from Inv Sec.    51               0            0        52              0     (14)          (4)    0             34
Others                            (8)            (3)           2        (9)            (2)     (1)           0     0             (1)
Income before Provisioning      475             40           36       551             164     (19)          (4)    1            681
Loan Loss Provision             212             18           30       260             194       2           (8)    0            451
Corporate Tax                    58              0           (6)       52               0      (6)           0     0             49
Net Income                      205             23           12       239             (30)    (14)           4     1            181




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Banking Subsidiaries Combined
Home
                                                                                  Quarterly
                                            2003 FY    2002 FY
(Won in billions)                                                2003 4Q    2003 3Q           2003 2Q     2003 1Q

  Net Interest Income                         3,128     2,572       852        713               851         712

  Non-Interest Income                          889        873       194        241               253         202

Operating Revenue (Net)                       4,017     3,445      1,046       954              1,104        914

SG&A Expenses                                 1,725     1,550       518        416               407         385

Non-Operating Income                           113        (44)      (204)       90               205          22

   Gain on Sale of NPLs                         (25)      (22)        (7)       (22)              25         (21)

   Impairment Loss from Inv Sec.                (94)     (274)      (230)       (28)             113          52

   Others                                      232        253        33        140                67          (9)

Income before Provisioning                    2,405     1,851       324        627               902         551

Loan Loss Provisioning                         888      1,098       169        234               224         260

Taxes                                           42       (184)       (14)         6                (1)        52

Net Income                                    1,474       937       169        387               679         239



Avg Total Assets                            112,860    95,123    119,264    114,461           110,959      #REF!

Avg Shareholders' Equity                      6,038     4,402      6,428      6,227             5,649      #REF!

Avg Interest Bearing Assets                  99,053    82,413    103,855    100,722            98,169     93,330

ROAA                                           1.3%      1.0%       0.6%       1.3%              2.5%       0.9%

ROAE                                          24.4%     21.3%      10.4%      24.7%             48.2%      18.7%



Operating Income per Employee (won in mm)      322        266       351        299               299         292

Cost Income Ratio                             42.5%     45.4%      46.8%      43.7%             43.7%      42.3%




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Woori Bank
Home
                                                                             Quarterly
                                            2003 FY   2002 FY
(Won in billions)                                               2003 4Q   2003 3Q        2003 2Q    2003 1Q

  Net Interest Income                        2,616     2,119       700       588            728        600

  Non-Interest Income                          789       761       174       215            227        174

Operating Revenue (Net)                      3,405     2,880       874       803            955        774

SG&A Expenses                                1,453     1,309       435       354            342        322

Non-Operating Income                           166        (7)     (154)       94            203         23

   Gain on Sale of NPLs                        (17)      (14)       (6)      (15)            25        (21)

   Impairment Loss from Inv Sec.               (38)     (246)     (178)      (29)           118         51

   Others                                      221       253        29       139             60         (8)

Income before Provisioning                   2,118     1,563       285       543            816        475

Loan Loss Provisioning                         689       967       127       178            171        212

Taxes                                           97      (184)      (17)       22             35         58

Net Income                                   1,332       780       175       343            610        205



Avg Total Assets                            93,719    78,441    99,429    94,920         91,965     88,428

Avg Shareholders' Equity                     5,228     3,788     5,576     5,397          4,880      4,461

Avg Interest Bearing Assets                 81,805    67,622    85,905    82,988         80,974     77,246

ROAA                                          1.4%      1.0%      0.7%      1.4%           2.7%       0.9%

ROAE                                         25.5%     20.6%     12.4%     25.2%          50.1%      18.6%



Operating Income per Employee (won in mm)      335       277       365       309            368        304

Cost Income Ratio                            42.1%     45.9%     46.6%     44.2%          36.2%      41.8%




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Kyongnam Bank

                                                                             Quarterly
                                            2003 FY   2002 FY
(Won in billions)                                               2003 4Q   2003 3Q        2003 2Q     2003 1Q

  Net Interest Income                          292       242        95        70             67          59

  Non-Interest Income                           62        67        13        16             16          17

Operating Revenue (Net)                        354       309       108        86             83          76

SG&A Expenses                                  148       132        46        34             36          33

Non-Operating Income                           (45)      (26)      (37)       (2)            (2)         (3)

   Gain on Sale of NPLs                         (6)       (8)        1        (7)            (0)          0

   Impairment Loss from Inv Sec.               (44)      (25)      (41)        1             (5)          0

   Others                                        5         7         2         3              3          (3)

Income before Provisioning                     162       152        26        50             46          40

Loan Loss Provisioning                         107        69        24        31             34          18

Taxes                                          (30)        0        (0)       (4)           (27)          0

Net Income                                      85        82         2        23             38          23



Avg Total Assets                            10,604     9,217    11,026    10,806         10,447      10,126

Avg Shareholders' Equity                       475       369       498       486            452         431

Avg Interest Bearing Assets                  9,636     8,233    10,080     9,908          9,529       9,010

ROAA                                          0.8%      0.9%      0.1%      0.8%           1.5%        0.9%

ROAE                                         17.9%     22.3%      1.5%     18.6%          33.8%       21.2%



Operating Income per Employee (won in mm)      278       224       341       268            264         239

Cost Income Ratio                            41.8%     42.7%     42.0%     39.0%          43.1%       43.0%




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Kwangju Bank

                                                                             Quarterly
                                            2003 FY   2002 FY
(Won in billions)                                               2003 4Q   2003 3Q        2003 2Q    2003 1Q
  Net Interest Income                          220       212        57        55             56         52
  Non-Interest Income                           38        44         6        10             10         12

Operating Revenue (Net)                        258       256        63        65             66         64
SG&A Expenses                                  125       109        37        28             29         30

Non-Operating Income                            (8)      (11)      (12)       (2)             4          2
   Gain on Sale of NPLs                         (2)        0        (2)        0              0          0
   Impairment Loss from Inv Sec.               (12)       (4)      (12)        0              0          0
   Others                                        6        (8)        2        (2)             4          2
Income before Provisioning                     125       136        14        34             41         36
Loan Loss Provisioning                          93        61        18        25             19         30
Taxes                                          (25)        0         3       (12)            (9)         (6)
Net Income                                      57        75        (7)       22             31         12


Avg Total Assets                             8,537     7,466     8,809     8,735          8,547       8,046
Avg Shareholders' Equity                       335       244       353       344            317        303
Avg Interest Bearing Assets                  7,612     6,558     7,870     7,826          7,665       7,074
ROAA                                          0.7%      1.0%      -0.3%     1.0%           1.5%        0.6%
ROAE                                         17.0%     30.6%      -8.3%    25.1%          39.4%       15.5%


Operating Income per Employee (won in mm)      242       219       238       243            246        241
Cost Income Ratio                            48.4%     42.6%     58.7%     43.6%          44.0%       47.5%




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Banking Subsidiaries - Interest Income & Expense


                                          2003 FY                                 2002 FY                                2003 4Q Quarterly
(Won in billions)             Woori   Kyongnam   Kwangju      Banks   Woori   Kyongnam   Kwangju      Banks   Woori   Kyongnam   Kwangju         Banks
Interest Income               5,461       658        519      6,638   4,832       590        505      5,927   1,399       180        130         1,709
 Interest on due from Banks      6         19             0     25      10         19             1     31       3          5             0             8
 Interest on Securities       1,227       177        147      1,551   1,133       140        141      1,414    271         63         36           370
 Interest on Loans            4,186       452        371      5,008   3,641       424        361      4,425   1,116       112         94         1,321
 Other Interest Income          43         10             1     53      48          7             1     57       8          1             0             9
Interest Expense              2,845       366        299      3,510   2,713       348        293      3,354    699         85         73           857
 Interest on Deposits         2,111       268        230      2,610   2,041       256        223      2,520    508         64         55           627
 Interest on Borrowings        230         46         44       320     318         53         47       418      60         11         12            82
 Interest on Debentures        344         21         13       378     257         25         17       299      89          5             4         98
 Other Interest Expense         160        31         11        202      97        15          6        118     42          5          3            50
Net Interest Income           2,616       292        220      3,128   2,119       242        212      2,572    700         95         57           852



                                      2003 3Q Quarterly                       2003 2Q Quarterly                       2003 1Q Quarterly
(Won in billions)             Woori   Kyongnam   Kwangju      Banks   Woori   Kyongnam   Kwangju      Banks   Woori   Kyongnam   Kwangju         Banks
Interest Income               1,300       169        130      1,600   1,448       160        133      1,740   1,315       149        126         1,590
 Interest on due from Banks      1          5             0      6       1          5             0      6       1          4             0             5
 Interest on Securities        255         40         37       332     373         39         40       452     327         36         34           397
 Interest on Loans            1,034       119         92      1,245   1,059       113         93      1,265    977        109         92         1,177
 Other Interest Income          11          5             1     16      14          3             0     17      10          1             0         10
Interest Expense               712         99         75       886     720         92         76       889     714         89         75           878
 Interest on Deposits          538         68         57       663     533         68         59       660     531         69         59           659
 Interest on Borrowings         53         11         12        77      59         12         11        83      58         12             9         78
 Interest on Debentures         79          5             3     88      88          4             3     96      88          5             3         97
 Other Interest Expense         41         15          3        59      39          8          3        49      37          4          3            44
Net Interest Income            588         70         55       713     728         67         56       851     600         59         52           712




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Banking Subsidiaries - Non Interest Income


                                        2003 FY                                 2002 FY                             2002 4Q Quarterly
(Won in billions)           Woori   Kyongnam   Kwangju      Banks   Woori   Kyongnam   Kwangju      Banks   Woori   Kyongnam    Kwangju        Banks
Commission Income            467         25         20       511     351         20         13       385     129          7             5        141
Trust Income                  32          3             1     36     136          4             2    142     (44)         1             0        (43)
Gains on Securities           89          3             5     97      40          7             9     55      32          (1)       (1)           29
Other Non-interest Income    202         31         13       245     234         36         21       291      57          7             2         66
Total                        789         62         38       889     761         67         44       873     174         13             6        194



                                    2003 3Q Quarterly                       2003 2Q Quarterly                       2003 1Q Quarterly
(Won in billions)           Woori   Kyongnam   Kwangju      Banks   Woori   Kyongnam   Kwangju      Banks   Woori   Kyongnam    Kwangju        Banks
Commission Income            114          6             6    125     112          6             5    122     112          6             4        123
Trust Income                  20          1             0     21      31          1             0     32      24          1             0         25
Gains on Securities           30          2             2     34      34          2             2     38      (8)         1             2         (5)
Other Non-interest Income     50          8             2     60      49          8             3     60      45          8             6         59
Total                        215         16         10       241     227         16         10       253     174         17         12           202




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Banking Subsidiaries - NIM and Spread
>>> NIM and Spread

                                                              2003 FY                                        2002 FY
                                         Woori     Kyongnam      Kwangju      Banks     Woori     Kyongnam      Kwangju      Banks
Net Interest Margin                       3.20 %        3.03 %       2.89 %    3.16 %    3.13 %        2.94 %       3.23 %    3.13 %
Interest Spread*                          3.36 %        3.91 %       3.39 %    3.41 %    3.72 %        4.17 %       4.20 %    3.72 %
  Interest Rate Earned on Loans*          6.96 %        7.51 %       7.17 %    7.03 %    7.70 %        8.18 %       8.32 %    7.70 %
  Interest Rate Paid on Deposits*         3.60 %        3.60 %       3.79 %    3.62 %    3.98 %        4.01 %       4.12 %    3.98 %
Interest Spread Excluding Credit Card*    3.36 %        3.72 %       3.35 %    3.39 %    3.61 %        3.85 %       3.96 %    3.61 %


                                                         2003 4Q Quarterly                              2003 3Q Quarterly
                                         Woori     Kyongnam      Kwangju      Banks     Woori     Kyongnam      Kwangju      Banks
Net Interest Margin                       3.23 %        3.74 %       2.87 %    3.26 %    2.81 %        2.80 %       2.78 %    2.81 %
Interest Spread*                          3.48 %        3.87 %       3.30 %    3.50 %    3.17 %        4.17 %       3.27 %    3.26 %
  Interest Rate Earned on Loans*          6.79 %        7.11 %       6.83 %    6.82 %    6.70 %        7.70 %       6.94 %    6.80 %
  Interest Rate Paid on Deposits*         3.32 %        3.25 %       3.53 %    3.33 %    3.53 %        3.53 %       3.67 %    3.54 %
Interest Spread Excluding Credit Card*    3.47 %        3.67 %       3.30 %    3.48 %    3.17 %        3.99 %       3.26 %    3.25 %


                                                         2003 2Q Quarterly                              2003 1Q Quarterly
                                         Woori     Kyongnam      Kwangju      Banks     Woori     Kyongnam      Kwangju      Banks
Net Interest Margin                       3.60 %        2.84 %       2.95 %    3.48 %    3.15 %        2.68 %       2.97 %    3.09 %
Interest Spread*                          3.61 %        3.93 %       3.45 %    3.63 %    3.18 %        3.65 %       3.57 %    3.26 %
  Interest Rate Earned on Loans*          7.29 %        7.64 %       7.34 %    7.33 %    7.11 %        7.60 %       7.65 %    7.20 %
  Interest Rate Paid on Deposits*         3.68 %        3.71 %       3.89 %    3.70 %    3.92 %        3.95 %       4.08 %    3.94 %
Interest Spread Excluding Credit Card*    3.61 %        3.76 %       3.44 %    3.61 %    3.18 %        3.40 %       3.43 %    3.22 %
* Won based figures




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Banking Subsidiaries - Deposit Breakdown
>>> Deposit Breakdown

                                                                                       2003 YE                                              2003 3Q
(Won in billions)                                       Woori         Kyongnam             Kwangju      Banks        %   Woori   Kyongnam     Kwangju    Banks        %
                  1
Core Deposits                                         28,937                3,132              2,132    34,201   40.8% 25,235       2,753        1,864   29,852   37.7%
Savings 2                                             34,527                4,855              4,538    43,920   52.4% 35,308       5,092        4,499   44,899   56.7%
                          3
Marketable Deposits                                     4,867                  331               436     5,635    6.7%   3,458        409         579     4,447    5.6%
Total                                                 68,331                8,318              7,106    83,756   100.0% 64,001      8,254        6,942   79,197   100.0%


                                                                                       2003 2Q                                              2003 1Q
(Won in billions)                                       Woori         Kyongnam             Kwangju      Banks        %   Woori   Kyongnam     Kwangju    Banks        %
                  1
Core Deposits                                         27,301                2,809              1,867    31,978   39.3% 27,004       2,546        1,869   31,419   40.7%
Savings 2                                             36,417                4,925              4,541    45,883   56.4% 33,824       4,758        4,679   43,262   56.0%
Marketable Deposits 3                                   2,528                  467               466     3,462    4.3%   1,746        515         260     2,520    3.3%
Total                                                 66,246                8,202              6,875    81,323   100.0% 62,574      7,820        6,807   77,201   100.0%


                                                                                       2002 YE                                              2002 3Q
(Won in billions)                                       Woori         Kyongnam             Kwangju      Banks        %   Woori   Kyongnam     Kwangju    Banks        %
                  1
Core Deposits                                         24,988                2,693              2,102    29,782   40.8% 23,891       2,545        1,857   28,293   39.7%
Savings 2                                             32,946                4,256              3,867    41,069   56.3% 32,156       4,242        3,944   40,343   56.5%
Marketable Deposits 3                                   1,307                  449               309     2,064    2.8%   1,855        475         379     2,708    3.8%
Total                                                 59,241                7,397              6,277    72,915   100.0% 57,902      7,261        6,180   71,343   100.0%
1. Core deposits include demand deposits, MMDA and corporate MMDA 2. savings 3. CD + R P + bank notes

* Based on Won denominated deposits




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Banking Subsidiaries - Loan Breakdown

>>> Loan Composition

(Won in billions, %)                          2002 1Q                   2002 2Q                   2002 3Q           2002 YE    2003 1Q    2003 2Q    2003 3Q    2003 4Q    YTD Increase(%)

Loans in Won and FC

Corporate                                      32,643                    32,969                    35,124           38,121     41,333     42,381     44,134     46,841              22.9%

   SME                                         22,572                    24,501                    26,910           29,231     31,944     33,951     35,704     37,594              28.6%

   Large Corporate                             10,072                      8,468                     8,215           8,889      9,389      8,430      8,430      9,247               4.0%

Household                                      17,782                    21,604                    23,932           25,631     26,378     27,715     28,924     30,223              17.9%

Public and Others                                1,387                     1,369                     1,270           1,249      1,426        966        905        948             -24.2%
   Total                                       51,813                    55,942                    60,327           65,002     69,137     71,062     73,964     78,012              20.0%




(%)                                           2002 1Q                   2002 2Q                   2002 3Q           2002 YE    2003 1Q    2003 2Q    2003 3Q    2003 4Q

Loans in Won and FC

Corporate                                         63.0 %                    58.9 %                    58.2 %          58.6 %     59.8 %     59.6 %     59.7 %     60.0 %

   SME                                            43.6 %                    43.8 %                    44.6 %          45.0 %     46.2 %     47.8 %     48.3 %     48.2 %

   Large Corporate                                19.4 %                    15.1 %                    13.6 %          13.7 %     13.6 %     11.9 %     11.4 %     11.9 %

Household                                         34.3 %                    38.6 %                    39.7 %          39.4 %     38.2 %     39.0 %     39.1 %     38.7 %

Public and Others                                  2.7 %                      2.4 %                     2.1 %          1.9 %      2.1 %      1.4 %      1.2 %      1.2 %
   Total                                         100.0 %                   100.0 %                   100.0 %         100.0 %    100.0 %    100.0 %    100.0 %    100.0 %
* Won denominated loans were classified following BOK's loan/deposit interest rate survey classification criteria

* Corporate and household overdraft accounts together with policy loans excluded from Won denominated loans

* Foreign currency loan position includes (offshore) FC loans and FC bills bought




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Banking Subsidiaries - Large Corporate / SME Loan Composition

>>> Large Corporate Loan Composition (Won Currency Only)

Interest Rate Type                                    Loan Type                                 Collateral Type
(Won in billions, %)               2003 YE   %        (Won in billions, %)   2003 YE   %        (Won in billions, %)        2003 YE      %

   Total                            4,299    100.0%     Total                 4,299    100.0%     Total                      1,673       100.0%

   Prime Rate                         860    20.0%      Secured               1,673    38.9%      Movables                     544        32.5%

   Market Rate                        832    19.3%      Unsecured             2,571    59.8%      Real Estate                  926        55.4%

   Deposit Rate                        20     0.5%      Guaranteed               55     1.3%      Deposits                     130        7.8%

   Fixed Rate                         657    15.3%                                                Marketable Securities         53        3.1%
   Policy Loan Rate                 1,930    44.9%                                                Others                        20        1.2%




>>> SME Loan Composition (Won Currency Only)

Interest Rate Type                                    Loan Type                                 Collateral Type
(Won in billions, %)               2003 YE   %        (Won in billions, %)   2003 YE   %        (Won in billions, %)        2003 YE      %

   Total                           35,926    100.0%     Total                35,926    100.0%     Total                     22,073       100.0%

   Prime Rate                       3,048     8.5%      Secured              22,073    61.4%      Movables                   2,047        9.3%

   Market Rate                     20,790    57.9%      Unsecured             9,611    26.8%      Real Estate               17,452        79.1%
   Deposit Rate                       364     1.0%      Guaranteed            4,242    11.8%      Deposits                   1,552        7.0%

   Fixed Rate                       4,764    13.3%                                                Marketable Securities         95        0.4%
   Policy Loan Rate                 6,960    19.4%                                                Others                       928        4.2%




* Bank account won currency base

* Loan Type : FSS reported basis




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Banking Subsidiaries - Household / Public Loan Composition (Won Currency Only)

>>> Household Loan Composition

Interest Rate Type                                                                  Loan Type                                  Collateral Type
(Won in billions, %)                      2003 YE                  %                (Won in billions, %)    2003 YE   %        (Won in billions, %)      2003 YE    %

   Total                                   30,309                 100.0%                Total               30,309    100.0%     Total                   19,264    100.0%

   Prime Rate                                3,643                  12.0%               Secured             19,264    63.6%      Movables                     4      0.0%

   Market Rate                             22,476                   74.2%               Unsecured            9,784    32.3%      Real Estate             17,802     92.4%

   Deposit Rate                                 969                  3.2%               Guaranteed           1,261     4.2%      Deposits                 1,294      6.7%

   Fixed Rate                                3,133                  10.3%                                                        Marketable Securities       94      0.5%
   Policy loan Rate                              87                     0%                                                       Others                      70      0.4%



>>> Public & Others Loan Composition

Interest Rate Type                                                                  Loan Type                                  Collateral Type
(Won in billions, %)                      2003 YE                  %                (Won in billions, %)    2003 YE   %        (Won in billions, %)      2003 YE    %

   Total                                     1,091                100.0%                Total                1,091    100.0%     Total                      454    100.0%

   Prime Rate                                    85                  7.8%               Secured                454    41.6%      Movables                    16      3.5%

   Market Rate                                  644                 59.1%               Unsecured              630    57.7%      Real Estate                414     91.3%

   Deposit Rate                                    1                 0.1%               Guaranteed               7     0.7%      Deposits                    22      4.8%

   Fixed Rate                                   221                 20.3%                                                        Marketable Securities        0      0.1%
   Policy Loan Rate                             139                 12.7%                                                        Others                       1      0.3%




* Interest Rate Type : Bank of Korea standard (excluding corporate and household overdraft, policy loans)

* Loan Type : FSS reported basis




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                                          Point           Wbn




Banking Subsidiaries - Asset Quality & Loan Loss Reserve


Banking Subsidiaries Combined
                                       Large Corporate                           SME                       Household                    Credit Card                    Total
(Won in billions, %)             Amount           L.L.R            %    Amount    L.L.R      %    Amount       L.L.R      %    Amount        L.L.R       %    Amount     L.L.R      %
Normal                            3,901            25             0.7   34,345     172      0.5   29,639        223      0.8     169            2       1.0   68,054      422      0.6
Precautionary                       209            41            19.6     763      28       3.6     270          22      8.0      17            2      11.8    1,259       92      7.3
Substandard                         155            88            56.5     520      106     20.4     252          50     20.0       0            0      19.1     927       244     26.3
Doubtful                             31            22            70.7      81      40      50.2     110          60     55.0      12            7      60.2     233       130     55.7
Estimated Loss                        1              1          100.6     215      215    100.0      37          37    100.0       4            4     100.8     257       257    100.0
Total Credits                     4,297           177             4.1   35,923     562      1.6   30,309        393      1.3     201           14       7.1   70,730    1,146      1.6
Below Precautionary                 396                                  1,579                      669                           32                           2,676
Below Substandard                   187                                   816                       399                           15                           1,417


Key Ratio

LLR/NPL                                                          94.6                      68.9                         98.4                           93.6                       80.9
LLR/Below Precautionary                                          44.7                      35.6                         58.6                           44.6                       42.8
LLR/Total Credits                                                 4.1                       1.6                          1.3                            7.1                        1.6




Woori Bank
                                       Large Corporate                           SME                       Household                    Credit Card                    Total
(Won in billions, %)             Amount           L.L.R            %    Amount    L.L.R      %    Amount       L.L.R      %    Amount        L.L.R       %    Amount     L.L.R      %
Normal                            3,668            24             0.7   27,532     138      0.5   26,700        201      0.8       1            0       0.0   57,901      363      0.6
Precautionary                       158            37            23.5     494      22       4.4     152          12      8.0       0            0       0.0     804        71      8.8
Substandard                         149            86            57.7     422      86      20.3     228          46     20.0       0            0       0.0     798       217     27.2
Doubtful                             31            22            70.7      70      35      50.2      96          53     55.0       1            1      62.2     198       111     55.8
Estimated Loss                        1              1          100.6     193      193    100.0      33          33    100.0       1            1     102.8     228       228    100.0
Total Credits                     4,007           170             4.2   28,711     474      1.7   27,209        344      1.3       3            2      58.4   59,929      990      1.7
Below Precautionary                 338                                  1,179                      509                            2                           2,029
Below Substandard                   180                                   685                       357                            2                           1,225


Key Ratio

LLR/NPL                                                          94.0                      69.2                         96.4                           83.3                       80.8
LLR/Below Precautionary                                          50.1                      40.2                         67.7                           74.5                       48.8
LLR/Total Credits                                                 4.2                       1.7                          1.3                           58.4                        1.7



* Large Corporate, SME, Household - Bank account won currency position only




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Banking Subsidiaries - Asset Quality & Loan Loss Reserve



Kyongnam Bank
                                       Large Corporate                        SME                        Household                    Credit Card                    Total
(Won in billions, %)             Amount       L.L.R          %     Amount      L.L.R       %    Amount       L.L.R      %    Amount        L.L.R       %    Amount     L.L.R        %
Normal                              123          1          0.5     3,771        19       0.5    1,477         11      0.7     162            2       1.0    5,533       32        0.6
Precautionary                        29          1          4.4       188           4     2.4      52           4      8.0      16            2      12.0     286        12        4.2
Substandard                           3          1         22.0        46           9    20.0      13           3     20.0       0            0       0.0      63        13       20.1
Doubtful                              0          0         80.4         8           4    50.0       9           5     55.0      10            6      60.0      28        16       55.6
Estimated Loss                        -           -          -         11        11     100.0       3           3    100.0       2            2     100.0      16        16      100.0
Total Credits                       156          3          1.8     4,025        48       1.2    1,554         25      1.6     190           12       6.1    5,926       88        1.5
Below Precautionary                  33                               254                          77                           28                            393
Below Substandard                     3                                66                          25                           12                            106


Key Ratio

LLR/NPL                                                    81.3                          72.9                        102.3                           95.6                         82.6
LLR/Below Precautionary                                     8.6                          18.9                         33.0                           41.1                         22.4
LLR/Total Credits                                           1.8                           1.2                          1.6                            6.1                          1.5




Kwangju
                                       Large Corporate                        SME                        Household                    Credit Card                    Total
(Won in billions, %)             Amount       L.L.R          %     Amount      L.L.R       %    Amount       L.L.R      %    Amount        L.L.R       %    Amount     L.L.R        %
Normal                              109          1          0.7     3042.6      15.1      0.5    1,462         11      0.8       6            0       1.0    4,621       27        0.6
Precautionary                        22          3         11.9       80.3       1.6      2.0      67           5      8.2       0            0      12.1     169        10        5.7
Substandard                           3          1         32.6       51.7      11.2     21.7      11           2     20.0       0            0      20.0      66        14       21.9
Doubtful                              -           -          -         2.0       1.0     50.0       4           2     55.0       0            0      60.1       7            4    53.7
Estimated Loss                        -           -          -        11.3      11.3    100.0       1           1    100.0       1            1     100.0      13        13      100.0
Total Credits                       134          4          3.3     3,188        40       1.3    1,546         23      1.5       8            1      12.2    4,875       68        1.4
Below Precautionary                  25                               145                          83                            1                            255
Below Substandard                     3                                65                          17                            1                             86


Key Ratio

LLR/NPL                                                  144.7                           61.8                        134.7                           91.1                         79.4
LLR/Below Precautionary                                    17.7                          27.6                         27.1                           68.5                         26.7
LLR/Total Credits                                           3.3                           1.3                          1.5                           12.2                          1.4




* Large Corporate, SME, Household - Bank account won currency position only




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                                                       Point            Wbn




 Banking Subsidiaries - Delinquency



Delinquency



                                                    Total Delinquency                                Large Corporate                     SME                       Household

(Won in billions, %)                          Amount Total Credit              %              Amount Total Credit        %    Amount Total Credit    %    Amount Total Credit        %

Banking Total

Over 1 Month                                     191           84,090         0.2                   -       4,338       0.0      117     35,931     0.3       51     30,373         0.2

Less than 1 Month                              1,168           84,090         1.4                   7       4,338       0.2      678     35,931     1.9      421     30,373         1.4

Total                                          1,359           84,090         1.6                   7       4,338       0.2      795     35,931     2.2      472     30,373         1.6



Woori Bank

Over 1 Month                                     156           72,488         0.2                   -       4,048       0.0       95     28,717     0.3       43     27,270         0.2

Less than 1 Month                                986           72,488         1.4                   7       4,048       0.2      561     28,717     2.0      373     27,270         1.4

Total                                          1,142           72,488         1.6                   7       4,048       0.2      655     28,717     2.3      416     27,270         1.5



Kyongnam Bank

Over 1 Month                                      15            6,449         0.2                   -         156       0.0        7       4,025    0.2        3       1,556        0.2

Less than 1 Month                                104            6,449         1.6                   0         156       0.2       64       4,025    1.6       26       1,556        1.6

Total                                            119            6,449         1.8                   0         156       0.2       71       4,025    1.8       29       1,556        1.9



Kwangju Bank

Over 1 Month                                      20            5,154         0.4                   -         134       0.0       15       3,188    0.5        5       1,547        0.3

Less than 1 Month                                 78            5,154         1.5                   0         134       0.1       54       3,188    1.7       22       1,547        1.4

Total                                             98            5,154         1.9                   0         134       0.1       69       3,188    2.2       27       1,547        1.8



* Total Delinquency: Based on FSS report criteria (Non-performing loans derived basis + indemnification of guarantees
   Large Corporate, SME, Household: Bank account won currency position and Trust account




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Non-banking Subsidiaries - Woori Card
                                                                                Quarterly
                                     2003 FY    2002 FY
(Won in billions)                                          2003 4Q   2003 3Q           2003 2Q       2003 1Q
  Commission Income                     407        612         87        72                  114        134
    Credit Sales                        169        268         32        31                   44         62
      Cash Advance                      136        276         17        16                   47         55
      Card Loan                         102         68         37        24                   22         18
   Others                                  1          4         1          -                    -          1
   Interest Income                      576        299        134       150                  165        127
   Operating Income                     984        915        221       222                  279        262
   Commission Expense                   246        204         67        59                   61         60
   Interest Expense                     218        189         45        52                   58         63
   Other Expense                           1          2         0         (0)                  0           1
   Net Operating Income                 519        520        109       112                  159        139
   G&A Expenses                          64         47         18        13                   20         13
   Non Operating Income                  35        (172)        4          0                   (8)       39
   Income before provisioning           491        301         96        99                  131        164
   Loan Loss Provision                 1,690       452        527       521                  448        194
   Net Income                         (1,321)      (151)     (431)      (480)               (380)        (30)



  Total Assets (Avg Balance)           5,621      4,614      5,027     5,579                5,880      6,009
     Credit Sales                      2,045      1,698      1,760     1,915                2,160      2,354
     Cash Advance                      2,890      2,478      2,320     2,923                3,165      3,163
    Card Loan                           685        438        948       741                  555        492
  Cardholders (000s)                   5,412      5,270      5,412     5,330                5,448      5,564
  Transaction volume                  27,266     33,026      4,951     6,268                7,852      8,195
  - Lump sum                           6,851      6,066      1,663     1,833                1,713      1,642
  - Installment                        2,953      4,673       583       675                  821        874
  - Cash Advance                      17,462     22,288      2,705     3,760                5,318      5,679
  Credit Card Assets (End Balance)     3,715      5,785      3,715     5,036                5,580      5,686
     Credit Sales                      1,453      2,307      1,453     1,645                1,895      2,080
     Cash Advance                      1,440      2,983      1,440     2,450                3,023      3,099
     Card Loan                           822        495        822       942                  662        507




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Non-banking Subsidiaries - Credit Card Asset

1. Delinquency Ratio for Credit Card Segment (Card loans included, balance basis)


                                                                               2002                                                         2003
(Won in billions)                                       1Q                   2Q                    3Q             4Q      1Q      2Q       3Q        Oct.    Nov.     Dec.
  Total Assets                                     3,872                 4,795                 5,510            5,785   5,686   5,580   5,036      4,959    4,797    3,715
  Total Delinquency                                   361                   528                  431             655     584     756    1,335      1,317    1,404     835
  (%)                                                  9.3                 11.0                   7.8            11.3    10.3    13.6    26.5       26.6     29.3     22.5
  Within 1 month                                      263                   316                  153             298     239     414     279        139      202      175
  (%)                                                  6.8                   6.6                  2.8             5.1     4.2     7.4      5.5        2.8      4.2     4.7
  Over 1 month                                         98                   212                  278             357     345     342    1,055      1,178    1,202     660
                                                       0.0                  0.0                   0.1             0.1     6.1     6.1    21.0       23.8     25.1     17.8
           1-3 month                                    45                  141                  118             205     158     163     417        260      141      125
           (%)                                         1.2                  2.9                   2.1              4      2.8     2.9     8.3        5.2      2.9      3.4
           3-6 month                                    41                   61                  139             123     149     158     510        720      764      448
           (%)                                         1.1                  1.3                   2.5             2.1     2.6     2.8    10.1       14.5     15.9     12.1
           Over 6 month                                12                     9                   21              29      38      21     128        199      298       86
           (%)                                         0.3                  0.2                   0.4             0.5     0.7     0.4     2.5        4.0      6.2      2.3
* Managed assets basis



2. Cash Advance Substitution, Restructuring, and Charge-off


                                                                               2002                                                         2003
(Won in billions)                                       1Q                   2Q                    3Q             4Q      1Q      2Q       3Q        Oct.    Nov.     Dec.
Cash advance substitution                                0                     8                 281             464     747    1041     766        708      676      334
(%)                                                    0.0                  0.2                   5.1             8.0    13.1    18.7    15.2       14.3     14.1      9.0
Net                                                      0                    8                  281             333     675     944      99           6        0        0
(%)                                                    0.0                  0.2                   5.1             5.8    11.9    16.9     2.0        0.1      0.0      0.0
Restructuring                                            3                     3                   17            264     320     508     760        807      855      678
(%)                                                    0.1                  0.1                   0.3             4.6     5.6     9.1    15.1       16.3     17.8     18.2
Net                                                      3                    3                   15             252     293     464     717        754      789      655
(%)                                                    0.1                  0.1                   0.3             4.4     5.2     8.3    14.2       15.2     16.5     17.6
Charge-off                                               4                   21                    42             76      34     107     263           0        0     782
(%)                                                    0.1                  0.4                   0.8             1.3     0.6     1.9     5.2        0.0      0.0     21.0
* Net amount excludes amounts already reflected in over 1 month delinquency figures for each respective item

* The amounts for CA substitution and restructuring are balance based while charge-offs are incremental based




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Non-banking Subsidiaries - Credit Card Asset

3. Credit Card Asset Quality and Reserves


                                                       2002 3Q                          2002 4Q                        2003 1Q              2003 2Q                2003 3Q                 2003 4Q
(Won in billions)                                              Reserves                             Reserves                 Reserves                Reserves             Reserves                Reserves
  Total                                            5,510              182            5,785              238          5,686          260   5,580          558    5,036             810    3,715           531
   Normal                                          5,158               52            5,289                51         5,003           50   4,593          150    3,014              30    2,319            23
   Precautionary                                      171              12              312                65          451            54    496            65    1,121             135     775             93
   Substandard                                           0               0                 0                0           0             0      0             0        0               0       0              0
   Doubtful                                           159              95              153                92          194           117    382           234      652             396     513            308
   Estimated Loss                                      23              23               31                31           39            39    109           109      249             249     107            107
* Managed asset Basis



4. Asset Quality and Reserves by product


                                                      Lump sum                         Installment                   Cash Advance          Card Loan            CA Substitution          Restructuring
(Won in billions)                                              Reserves                             Reserves                 Reserves                Reserves             Reserves                Reserves
  Total                                               579           14                 870               87          1,089        70       165            23      334         226         678         111
   Normal                                             559                6             708                  7         925             9    128             1        0               0       0              0
   Precautionary                                         9               1               50                 6          83            10     10             1        2               0     620             74
   Substandard                                           0               0                 0                0           0             0      0             0        0               0       0              0
   Doubtful                                              9               6               95               57           76            46     15             9      266             160      51             31
   Estimated Loss                                        1               1               17               17            5             5     12            12       66              66       6              6
* As of Dec. 31, 2003

* Managed asset Basis



5. Normal Collection Rate and Card Limit


                                                                         2002                                                                 2003
(Won in thousands)                                      1Q              2Q               3Q               4Q            1Q           2Q     3Q           Oct.     Nov.            Dec.
   Normal Settlement Ratio1)                       71.3%           70.6%             68.4%            64.0%          71.6%       72.5%    75.3%        76.4%    75.8%        75.5%
   Average Card Limit                              4,281           4,642             5,090            3,812          3,685       3,200    3,108        3,083    2,800        2,750
   Avg. New Card Limit                             3,174           3,769             1,310            1,559          1,587       1,653    1,509        1,496    1,452        1,380
1) Normal Settlement Ratio : Based on main settlement dates (5th, 12th, 23rd, 27th or each month)

- Woori Credit card started the operation, since Feb. '2002'

- The NPLs which occurred before Feb. 2002 were reflected on Woori Bank's F/S through the collection,and write off
- There is no reaging except for CA substitution and restructuring, which were mentioned above




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Non-banking Subsidiaries - Woori Securities



                                                                  Quarterly
                                   2003       2002
(Won in billions)                                    2003 4Q   2003 3Q        2003 2Q         2003 1Q

Operating Revenue                  154        140        33        33             49                 39

 Commission                         64         71        17        15             19                 13

 Interest Revenue                   23         11         6         5              6                  6

 Others                             67         57        10        12             24                 20

Operating Expense                  151         98        33        31             43                 44

Operating Income                     3         42         0         2              6                 (5)

  Non Operating Income             (20)        (1)       (3)       (4)             2                (15)

  Corporate Tax                     (4)        12        (2)       (0)             4                 (6)

Net Income                         (13)        29        (2)       (2)             4                (14)



Avg. Total Asset                   604        627       630       567            665                553

Avg. Shareholders’ Equity          368        390       361       365            362                385

ROAA                              -2.2%       4.7%     -1.1%     -1.1%           2.5%             -10.2%

ROAE                              -3.5%       7.5%     -1.9%     -1.7%           4.6%             -14.6%




Non-banking Subsidiaries - Woori Investment Trust




                                                                                        Page 24
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                                                           Quarterly
                                2003   2002
(Won in billions)                             2003 4Q   2003 3Q        2003 2Q         2003 1Q

Operating Revenue                 7     11         1         2              2                2

 Income from inv't trust ops.     5      9         1         1              1                2

 Others                           2      2         0         1              1                0

Operating Expense                 5      8         1         1              1                1

 G&A Expenses                     5      5         1         1              1                1

 Others                           0      3         0         0              0                0

Operating Income                  2      3         0         0              0                1

 Non Operating Income             0      0         0         0              0                0

Pre Tax Income                    2      3         0         0              0                1

 Corporate Tax                    1      1         0         0              0                0

Net Income                        1      2         0         0              0                1



Avg. Total Asset                 39     41        35        35             42               42

Avg. Shareholders’ Equity        36     38        35        35             35               38

ROAA                            3.5%   4.9%     1.1%      0.5%            3.2%             8.4%

ROAE                            3.7%   5.2%     1.1%      0.5%            3.8%             9.1%




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                                               Point       Wbn




Asset Quality Trend

2003 4Q
                                                                                                                                                                                                                         1
                                                   Woori                   Kyongnam              Kwangju             Bank Total             Woori Card           Woori Securities          Woori SPCs               Total

(Won in billions, %)                        Amount                  %    Amount          %    Amount          %    Amount            %    Amount            %    Amount              %    Amount           %    Amount          %

Normal                                      70,660                95.2    6,092        93.5    4,949        94.8   81,700          95.0     627           36.2       32         53.4          0           0.0   82,360        93.7

Precautionary                                1,910                 2.6     313          4.8     180          3.5    2,403           2.8     658           38.0        6             9.2       0           0.0    3,067         3.5

Substandard                                  1,027                 1.4      69          1.1      69          1.3    1,165           1.4       4            0.2        0             0.7       1           0.5    1,170         1.3

Doubtful                                      395                  0.5      28          0.4       7          0.1     430            0.5     367           21.2        5             7.9      71          54.9     872          1.0

Estimated Loss                                256                  0.3      17          0.3      13          0.3     285            0.3      75            4.3       17         28.9         57          44.5     435          0.5

Total Credits                               74,247               100.0    6,518       100.0    5,219       100.0   85,983         100.0    1,731         100.0       60        100.0        128         100.0   87,903       100.0

Below Precautionary                          3,587                 4.8     427          6.5     269          5.2    4,283           5.0    1,104          63.8       28         46.6        128         100.0    5,543         6.3

Below Substandard                            1,677                 2.3     114          1.7      89          1.7    1,880           2.2     446           25.7       22         37.4        128         100.0    2,476         2.8

Loan Loss Reserve                            1,562                          94                   72                 1,728                   381                      21                     122                  2,252



Key Ratio

LLR/NPL                                                           93.1                 82.3                 80.9                   91.9                   85.6                  94.6                     94.8                 90.9

LLR/Below Precautionary                                           43.5                 22.0                 26.7                   40.3                   34.6                  75.9                     94.8                 40.6

LLR/Total Credits                                                  2.1                  1.4                  1.4                    2.0                   22.0                  35.4                     94.8                  2.6


2003 3Q                                                                                                                                                                                                   21
                                                   Woori                   Kyongnam              Kwangju             Bank Total             Woori Card           Woori Securities          Woori SPCs               Total1

(Won in billions, %)                        Amount                  %    Amount          %    Amount          %    Amount            %    Amount            %    Amount              %    Amount           %    Amount          %

Normal                                      68,523                94.9    6,158        94.1    4,988        94.3   79,669          94.8     845           37.7       14         30.4          0           0.0   80,528        93.1

Precautionary                                1,910                 2.6     251          3.8     196          3.7    2,356           2.8     775           34.5       10         21.0          0           0.0    3,141         3.6

Substandard                                  1,170                 1.6      87          1.3      79          1.5    1,336           1.6       4            0.2        0             0.9       1           0.5    1,341         1.6

Doubtful                                      268                  0.4      25          0.4      18          0.3     310            0.4     414           18.4        5         10.8        138          99.5     867          1.0

Estimated Loss                                332                  0.5      21          0.3       8          0.2     361            0.4     207            9.2       17         36.9          0           0.0     585          0.7

Total Credits                               72,202               100.0    6,542       100.0    5,289       100.0   84,032         100.0    2,244         100.0       46        100.0        139         100.0   86,461       100.0

Below Precautionary                          3,679                 5.1     384          5.9     300          5.7    4,363           5.2    1,399          62.3       32         69.6        139         100.0    5,933         6.9

Below Substandard                            1,770                 2.5     133          2.0     105          2.0    2,007           2.4     624           27.8       22         48.6        139         100.0    2,793         3.2

Loan Loss Reserve                            1,519                         100                   84                 1,703                   560                      21                     122                  2,407



Key Ratio

LLR/NPL                                                           85.9                 75.4                 79.9                   84.9                   89.8                  94.6                     87.7                 86.2

LLR/Below Precautionary                                           41.3                 26.1                 27.9                   39.0                   40.0                  66.0                     87.7                 40.6

LLR/Total Credits                                                  2.1                  1.5                  1.6                    2.0                   25.0                  46.0                     87.7                  2.8




*1. Figures derived on an aggregate basis




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Asset Quality Trend

2003 2Q
                                                                                                                                                                                                                                      1
                                                Woori             Kyongnam              Kwangju             Bank Total             Woori Card              Woori IB           Woori Securities          Woori SPCs               Total

(Won in billions, %)                        Amount         %    Amount          %    Amount          %    Amount            %    Amount            %    Amount           %    Amount              %    Amount           %    Amount          %

Normal                                      66,510       95.2    6,112        94.8    4,851        94.5   77,473          95.1    1,473          68.2     779          76.2       11         23.9          0           0.0   79,737        94.0

Precautionary                                1,627        2.3     196          3.0     180          3.5    2,003           2.5     455           21.0     130          12.7       10         20.8          0           0.0    2,597         3.1

Substandard                                  1,155        1.7      86          1.3      71          1.4    1,312           1.6       6            0.3       4           0.4        3             7.0       0           0.0    1,325         1.6

Doubtful                                      270         0.4      29          0.4      23          0.5     321            0.4     196            9.1     109          10.6        5         11.4        159         100.0     791          0.9

Estimated Loss                                300         0.4      26          0.4       7          0.1     332            0.4      29            1.3       1           0.1       17         36.8          0           0.0     379          0.4

Total Credits                               69,862      100.0    6,449       100.0    5,131       100.0   81,442         100.0    2,159         100.0    1,023        100.0       46        100.0        159         100.0   84,829       100.0

Below Precautionary                          3,351        4.8     337          5.2     280          5.5    3,968           4.9     686           31.8     244          23.8       35         76.1        159         100.0    5,092         6.0

Below Substandard                            1,724        2.5     141          2.2     101          2.0    1,965           2.4     231           10.7     114          11.1       25         55.3        159         100.0    2,495         2.9

Loan Loss Reserve                            1,491                105                   82                 1,677                   270                     80                     22                     133                  2,181



Key Ratio

LLR/NPL                                                  86.5                 74.4                 81.6                   85.3                  116.5                  69.9                  85.7                     83.4                 87.4

LLR/Below Precautionary                                  44.5                 31.0                 29.3                   42.3                   39.3                  32.6                  62.2                     83.4                 42.8

LLR/Total Credits                                         2.1                  1.6                  1.6                    2.1                   12.5                   7.8                  47.4                     83.4                  2.6


2003 1Q
                                                Woori             Kyongnam              Kwangju             Bank Total             Woori Card              Woori IB           Woori Securities          Woori SPCs               Total1

(Won in billions, %)                        Amount         %    Amount          %    Amount          %    Amount            %    Amount            %    Amount           %    Amount              %    Amount           %    Amount          %

Normal                                      64,520       93.6    5,842        94.4    4,698        94.5   75,060          93.7    2,344          84.0    1,025         83.8        3             7.9       0           0.0   78,431        92.5

Precautionary                                2,607        3.8     216          3.5     168          3.4    2,990           3.7     339           12.2     138          11.3       10         26.4          0           0.0    3,478         4.1

Substandard                                  1,012        1.5      86          1.4      70          1.4    1,167           1.5       6            0.2       3           0.2        3             8.2       0           0.0    1,179         1.4

Doubtful                                      429         0.6      29          0.5      25          0.5     483            0.6      90            3.2      57           4.6        5         12.1        174         100.0     808          1.0

Estimated Loss                                338         0.5      18          0.3      10          0.2     366            0.5      10            0.4       1           0.1       18         45.4          0           0.0     394          0.5

Total Credits                               68,905      100.0    6,190       100.0    4,971       100.0   80,066         100.0    2,789         100.0    1,223        100.0       39        100.0        174         100.0   84,290        99.4

Below Precautionary                          4,386        6.4     348          5.6     273          5.5    5,006           6.3     445           16.0     198          16.2       36         92.1        174         100.0    5,859         7.0

Below Substandard                            1,779        2.6     132          2.1     105          2.1    2,016           2.5     106            3.8      60           4.9       26         65.6        174         100.0    2,381         2.8

Loan Loss Reserve                            1,683                 96                   92                 1,871                   135                     49                     22                     141                  2,218



Key Ratio

LLR/NPL                                                  94.6                 72.8                 87.5                   92.8                  127.1                  81.0                  85.9                     81.2                 93.1

LLR/Below Precautionary                                  38.4                 27.7                 33.6                   37.4                   30.3                  24.5                  61.3                     81.2                 37.8

LLR/Total Credits                                         2.4                  1.6                  1.8                    2.3                    4.8                   4.0                  56.4                     81.2                  2.6




*1. Figures derived on an aggregate basis




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Asset Quality Trend

2002 YE
                                                                                                                                                                                                                                       1
                                                Woori             Kyongnam              Kwangju             Bank Total             Woori Card              Woori IB           Woori Securities           Woori SPCs               Total

(Won in billions, %)                        Amount         %    Amount          %    Amount          %    Amount            %    Amount            %    Amount           %    Amount               %    Amount           %    Amount          %

Normal                                      60,578       94.0    5,701        95.3    4,638        95.0   70,918          94.2    2,265          79.5    1,132         85.5        4             10.7      32           4.1   74,351        88.2

Precautionary                                2,447        3.8     162          2.7     138          2.8    2,747           3.6     439           15.4     132          10.0       11             26.1       0           0.0    3,328         3.9

Substandard                                   681         1.1      79          1.3      78          1.6     839            1.1       6            0.2       3           0.2        4             10.4       0           0.0     851          1.0

Doubtful                                      496         0.8      24          0.4      11          0.2     530            0.7     114            4.0      56           4.2        7             17.1     741          95.9    1,449         1.7

Estimated Loss                                245         0.4      16          0.3      16          0.3     277            0.4      24            0.8       1           0.1       14             35.7       0           0.0     316          0.4

Total Credits                               64,448      100.0    5,982       100.0    4,881       100.0   75,311         100.0    2,847         100.0    1,324        100.0       40         100.0        773         100.0   80,295        95.3

Below Precautionary                          3,869        6.0     281          4.7     243          5.0    4,393           5.8     582           20.5     192          14.5       36             89.3     741          95.9    5,944         7.4

Below Substandard                            1,422        2.2     119          2.0     105          2.1    1,646           2.2     144            5.1      60           4.5       26             63.3     741          95.9    2,616         3.3

Loan Loss Reserve                            1,566                 93                   92                 1,751                   181                     49                     21                      631                  2,632



Key Ratio

LLR/NPL                                                 110.1                 78.2                 87.7                  106.4                  125.5                  81.4                      80.8                  85.2                100.6

LLR/Below Precautionary                                  40.5                 33.2                 37.8                   39.9                   31.0                  25.3                      57.2                  85.2                 44.3

LLR/Total Credits                                         2.4                  1.6                  1.9                    2.3                    6.3                   3.7                      51.1                  81.7                  3.3


2002 3Q
                                                Woori             Kyongnam              Kwangju             Bank Total             Woori Card              Woori IB           Woori Securities           Woori SPCs               Total1

(Won in billions, %)                        Amount         %    Amount          %    Amount          %    Amount            %    Amount            %    Amount           %    Amount               %    Amount           %    Amount          %

Normal                                      57,168       92.5    5,450        95.0    4,389        94.4   67,006          92.8    3,706          93.1     384          21.8        5             10.2       0           0.0   71,101        88.5

Precautionary                                3,127        5.1     152          2.7     164          3.5    3,443           4.8     133            3.3     878          49.8       11             23.0       0           0.0    4,464         5.6

Substandard                                   707         1.1      83          1.4      73          1.6     863            1.2       7            0.2      48           2.7        4              9.1       0           0.0     921          1.1

Doubtful                                      485         0.8      19          0.3      15          0.3     519            0.7     117            2.9     446          25.3        9             20.0    1,198        100.0    2,290         2.9

Estimated Loss                                337         0.5      30          0.5      10          0.2     376            0.5      19            0.5       7           0.4       17             37.6       0           0.0     420          0.5

Total Credits                               61,823      100.0    5,734       100.0    4,651       100.0   72,208         100.0    3,982         100.0    1,763        100.0       46         100.0       1,198        100.0   79,197        98.6

Below Precautionary                          4,656        7.5     284          5.0     262          5.6    5,202           7.2     276            6.9    1,379         78.2       41             89.8    1,198        100.0    8,096        10.2

Below Substandard                            1,528        2.5     132          2.3      98          2.1    1,758           2.4     143            3.6     501          28.4       31             66.7    1,198        100.0    3,631         4.6

Loan Loss Reserve                            1,597                100                   90                 1,788                   140                    415                     22                      966                  3,330



Key Ratio

LLR/NPL                                                 104.5                 76.2                 91.8                  101.7                   97.4                  82.8                      73.0                  80.6                 91.7

LLR/Below Precautionary                                  34.3                 35.3                 34.4                   34.4                   50.6                  30.1                      54.2                  80.6                 41.1

LLR/Total Credits                                         2.6                  1.7                  1.9                    2.5                    3.5                  23.5                      48.7                  80.6                  4.2



*1. Figures derived on an aggregate basis




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Top 30 Exposures

(As of December 31, 2003)                                                                                                                                                        (Won in billions)
                            Name                                    Normal       Precautionary   Sub-standard   Doubtful   Estimated Loss   Total Credit   Marketable Sec   Exposure % of Total

KDIC                                                                       26                0             0           0               0              26           8,122      8,147        47.2%
Samsung Electronics                                                      877                 0             0           0               0             877              19        897         5.2%
LG Card                                                                      0            425              0           0               0             425             327        751         4.3%
Kookmin Bank                                                                 0               0             0           0               0               0             588        588         3.4%
KDB                                                                          0               0             0           0               0               0             552        552         3.2%
LG Electronics                                                           482                 0             0           0               0             482              17        498         2.9%
Samsung Card                                                                 1               0             0           0               0               1             477        478         2.8%
Hynix1                                                                       0               0             0          74               0              74             335        410         2.4%
LG Corp.                                                                 381                 0             0           0               0             381              10        391         2.3%
Hyosung                                                                  366                 0             0           0               0             366               0        366         2.1%
Shinhan Bank                                                                 0               0             0           0               0               0             343        343         2.0%
Korea First Bank                                                             0               0             0           0               0               0             319        319         1.8%
National Federation of Fisheries Cooperatives                            249                 0             0           0               0             249              39        288         1.7%
SK Networks1                                                                 0               0           177           0               0             177              89        267         1.5%
The Bank For Foreign economic                                            237                 0             0           0               0             237               0        237         1.4%
Kia Motors                                                               210                 0             0           0               0             210              22        232         1.3%
Sun Capital                                                              231                 0             0           0               0             231               0        231         1.3%
Samsung Corp.                                                            201                 0             0           0               0             201               2        203         1.2%
Industrial Bank of Korea                                                     0               0             0           0               0               0             203        203         1.2%
Hyundai Motors                                                           133                 0             0           0               0             133              63        196         1.1%
Chohung Bank                                                                 0               0             0           0               0               0             195        195         1.1%
CJ                                                                       192                 0             0           0               0             192               1        193         1.1%
Hankook Tire                                                             190                 0             0           0               0             190               1        191         1.1%
NCV Industry                                                             183                 0             0           0               0             183               0        183         1.1%
Small Business Corp.                                                         0               0             0           0               0               0             170        170         1.0%
Kumho Tire                                                               170                 0             0           0               0             170               0        170         1.0%
Hyundai Merchant & Marine                                                    6            155              0           0               0             161               0        161         0.9%
Samsung Life Insurance                                                       0               0             0           0               0               0             142        142         0.8%
KAMCO                                                                        0               0             0           0               0               0             139        139         0.8%
Korea Exchange Bank                                                          0               0             0           0               0               0             136        136         0.8%
Total                                                                  4,133              580            177          74               0           4,964          12,311     17,275        100%

* Exposure, excluding 'unconfirmed acceptances & guarantees' and trust account
1. Including overseas subsidiaries' exposures




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Top 20 NPLs

(As of December 31, 2003)                                                                                                                                                (Won in billions)
                                                                                 Sub-                        Estimated                                                      Coverage
             Name                         Normal            Precautionary                     Doubtful                   Total Credit   NPL        Reserves   Collateral
                                                                               standard                        Loss                                                            Ratio
                   1
SK Networks                                            0                   0        177                  0           0           177      177           106             4            62%

Hyundai Corp.                                          2                   0              0         80               0            82          80         48             7            67%
        1
Hynix                                                  0                   0              0         74               0            74          74         67           51           158%

Hanil Textile                                          2                   0          56                 0           0            58          56         25          460           833%

Ssangyong1                                             5                   0              0         38               0            43          38         23             5            65%
                         1
Daerim Fisheries                                       2                   0          34                 0           0            35          34         15             5            57%

Saehan Media                                         15                    0          26                 0           0            40          26          5           30             88%

Ssangyong Cement                                       2                   0          11                 0           0            13          11          5           12           128%

Kangnam Solar                                          0                   0              9              0           0              9          9          2             9          120%

Taejin Travel                                          0                   0              7              0           0              7          7          2             5            89%

Dooray Metech                                          0                   0              0              0           7              7          7          7             0          100%

Kukje Trading Corp                                     0                   0              0              7           0              7          7          7             0            92%

Fine Korea                                             0                   0              0              0           6              6          6          6             0          100%

Samkwang Paper                                         0                   0              5              0           1              6          6          2             5          116%

Kwangju Newspaper                                      0                   2              6              0           0              8          6          2             0            26%

PT TEL                                                 0                   0              5              0           0              5          5          3             0            49%

Hyundai Cable                                          0                   0              1              0           4              5          5          4             1          106%

Hankook-ilbo                                           0                   0              0              5           0              5          5          4             0            76%

Kumdong Lighting                                       3                   0              2              0           3              8          5          3             4            92%

Haengbokhansesang                                      0                   0              3              0           2              5          5          2             3          113%

Total                                                31                    2        342            204              23           601      568           337          600           156%



* Collateral includes notes discounted foreign notes bought based on LCs
   Total credits, excluding 'unconfirmed acceptances & guarantees'
1. Including overseas subsidiaries exposures




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              Top 20 Precautionary Loans

n billions)   (As of December 31, 2003)                                                                                                                                                     (Won in billions)
                                                                                                                                     Estimated                                                    Coverage
                                   Name                                Normal            Precautionary Sub-standard   Doubtful                       Total Credit   Reserves       Collateral
                                                                                                                                       Loss                                                            Ratio
              LG Card                                                               0            425             0               0               0           425           74               0           17%

              Hyundai Merchant & Marine                                             6            155             0               0               0           161           29              10           24%

              Daewoo Motors                                                         0            103             0               0               0           103           20            103          119%

              KP Chemical                                                          15             68             0               0               0             82          10              15           30%

              Daewoo Electronics                                                    6             61             0               0               0             67          12               6           26%

              Daewoo International                                                 58             55             0               0               0           113               4           58           55%

              Shindongbang                                                         10             42             0               0               0             52              6           39           87%

              Samyang Food                                                          0             36             0               0               0             37              6            5           31%

              Republic of Indonesia                                                 0             32             0               0               0             32              5            0           15%

              Hyundai Construction                                                  0             27             0               0               0             27              2            0            6%

              Korea Information & Comm.                                             0             19             0               0               0             19              0            0            2%

              Kumho Petrochemical                                                  55             16             0               0               0             71              8         103          157%

              Central City                                                          0             16             0               0               0             16              2            1           24%

              Kukje Machinery                                                       0             15             0               0               0             15              0            0            2%

              Hwankum Ind.                                                          0             14             0               0               0             14          10               9         132%

              Central Tourism & Dev.                                                0             13             0               0               0             13              2           13         115%

              Kwanghwa Heungsan                                                     0             12             0               0               0             12              9            7         133%

              Prospa                                                                0             11             0               0               0             11              8            4         107%

              San Il Building                                                       0             11             0               0               0             11              7            9         145%

              Ilhwa Wool Textile                                                    1               9            0               0               0             11              0            8           79%

              Total                                                               152           1,138            0               0               0         1,290          215            389            47%



              * Collateral includes notes discounted foreign notes bought based on LCs
                Total credits, excluding 'unconfirmed acceptances & guarantees'




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Companies of Selected Groups

(As of December 31, 2003)
                                                         Loan              Acceptances &                                     Investment Securities
                                                                                                Total                                                              Stock                         Impaired
                                                                            Guarantees                                                                                     T/E       Provision              Coverage Ratio
                                                                                               Credits                                                              CB                             Loss
(Won in billions)                              Secured     Unsecured        Outstanding                      Par Value         Impaired Loss       Present Value

Hyundai
 Hynix1                                             51               10               14             74                  2                     2               0     335    412            67           2            156%
 Hyundai Merchant Marine                            10             151                     -       161                   -                     -               -       -    161            29           -             24%
 Hyundai Corp.                                        7              56               19             82                  -                     -               -      44    126            48           -             67%
 Hyundai Construction                                 -               9               19             27                  7                     1               6      53     86             2           1              9%
 Hyundai Oilbank                                      -              65                    -         65                  -                     -               -       -     65             0           -              0%

Ssangyong
 Ssangyong Co1                                        5              37                1             43                  -                     -               -      30     73            23           -             65%
 Ssangyong Cement                                   12                1                    -         13                  -                     -               -       -     13             5           -            128%

Daewoo
 Daewoo Motors                                     103                0                    -       103                   -                     -               -       -    103            20           -            119%
 Daewoo Int'l                                       58               35               20           113                   -                     -               -      14    126             4           -             55%

Kumho
 Kumho Industry                                       -               1                    -             1               -                     -               -       -         1          0           -             17%
 Kumho Petrochemical                                55               16                    -         71                  -                     -               -       -     71             8           -             89%
 Asiana Airline1                                      -              39                    -         39                  -                     -               -       -     39             7           -             19%

SK
 SK Telecom                                           -               5                    -             5          26                         -              26       7     38             0           -              0%
 SK Corp.                                             -              80                    -         80             60                         -              60       -    140             0           -              0%
                 1
 SK Networks                                          4            171                 2           177                   -                     -               -      89    267           106           -             62%


1. Including overseas subsidiaries exposures



* Collateral includes notes discounted foreign notes bought based on LCs
  Total credits, excluding 'unconfirmed acceptances & guarantees'




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NPL / ABS Status

>>> ABS Balance


(As of December 31, 2003)                                                                                                                                         (Won in billions)

                                                                                     Outstanding Issuance Value
                                                                                                                                     Book Price of
    Subsidiaries            Issue Date              Initial OPB     Current OPB                                           Reserves                                          Cash
                                                                                                                                      Sub. ABS           Impairment
                                                                                      Senior        Sub.          Total
                                                                                                                                                               Loss
    Woori Bank              2000-10-30                       738             0            0            33          33           0                    0          33              0
                            2000-11-20                       465             0            0             0            0          0                    0           0              0
                            2001-03-16                       567             0            0             0            0          0                    0           0              2
                            2001-04-10                       481             0            0             0            0          0                    0           0              0
                            2001-07-06                       595           101            0            27          27           0                    1          26              0
                            2001-06-08                       426             0            0             0            0          0                    0           0              0
                            2001-10-18                       493             0            0             0            0          0                    0           0              0
                            2001-12-06                       890           291            0            90          90           0               21              69              7

        합계                                                  4,655          392            0          149          149           0               22             127              8


(As of December 31, 2003)                                                                 (Won in billions)
                                                    Assets

                                                                                  Debt-Equity  Assets
                                     Normal      Precautionary            NPLs
                                                                                       Swap Written-off

                392                                           61           125          177            29


* Based on remaining balance after settelment of accounts




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KAMCO

>>> Loan with Exercisable Put-back Option

1. Expected loss rate for non-collaterized loan estimated to be 82.4%

2. Woori has provisioned 100% for estimated loss and interest on put-back option


(As of December 31, 2003)
                                                                             Loan Value
                                                                              Non-Collateral Loan
                                               Collected     Collateral      Total       Estimated                          Estimated     Interest on Put
                    Book Value Sales Price     Amount         Value         Amount         Value           Loan Value         Loss             Back             Total Provision
(Won in billions)                  (1)            (2)           (3)                         (4)          (2)+(3)+(4)=(5)    (1)-(5)=(6)
Woori Bank                  413          338            85            158        169              30                273             65                 50                  114

Kwangju Bank                 4            1              0             0           4                 1                  1             0                     1                1

Kyongnam Bank               18           11              1             2          15                 3                  6             4                     2                7

Woori Card                   5            3              0             0           5                 0                  0             3                     1                3

Sum                         440          353            86            161        192              34                281             72                 53                  125


>>> Low possibility to exercise put-back option

(As of December 31, 2003)

                                                                             Loan Value
                                                                              Non-Collateral Loan
                                               Collected     Collateral      Total       Estimated                           Estimated    Interest on Put
                    Book Value Sales Price     Amount         Value         Amount         Value           Loan Value          Loss            Back             Total Provision
(Won in billions)                  (1)            (2)           (3)                         (4)          (2)+(3)+(4)=(5)    (1)-(5)=(6)

Woori Bank                  35           35             31            13           4                 4               48            (13)                     0                0




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Woori Financial Group IR Officer Lists


     Department                                    Job Scope                       Name and Position        Tel                 E-mail


Financial Planning   Management Projection

                     Budgeting
                                                                                    Jung Won Cha
                     Dividend Policy and Optimal Capital Structure                                     822-2125-2140   jungwon.cha@woorifg.com
                                                                                      (Director)
                     Financial Performance Analysis

                     NPL Resolution including Lehman JV


Risk Management      Risk Management Policy

                     Asset Quality Monitoring
                                                                                   Hyung Duck Ahn
                                                                                                       822-2125-2150   hyungduk.ahn@woorifg.com
                                                                                      (Director)
                     Financial Risk Management and Monitoring

                     Top exposures


Accounting           Financial Accounting and Managerial Accounting
                                                                                    Hee Bong Kim
                     Tax Related                                                                       822-2125-2160   heebong.kim@woorifg.com
                                                                                      (Director)
                     Auditing


Treasury and IR      IR for Domestic/International Investors and All Disclosures

                     Privatization Plan
                                                                                    Young Sun Kim
                                                                                                       822-2125-2110   youngsun.kim@woorifg.com
                                                                                      (Director)
                     Funding Plan and Execution

                     Other non financial related


IR Officer           IR for international investors
                                                                                      Joon Seok
                     Investor Information Services                                                     822-2125-2133      jseok@woorifg.com
                                                                                   (Senior Manager)
                     Shareholder Monitoring




                                                                                                                                                  Page 35

								
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