SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2008

 

 

Woori Finance Holdings Co., Ltd.

(Translation of registrant’s name into English)

 

 

203, Hoehyon-dong, 1-ga, Chung-gu, Seoul, Korea

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F      X            Form 40-F          

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):         

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):         

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes                      No      X    

 

 

 

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Woori Finance Holdings’ Preliminary Financial Performance Figures

for the First Half of 2008

The preliminary financial performance figures for Woori Finance Holdings for the six-month period ended on June 30, 2008, on a consolidated basis, are as follows.

(Units: millions of KRW, %)

 

Item				2Q 2008		1Q 2008		Change (%)		2Q 2007		Change (%)
Revenue		2Q		11,386,973		13,828,203		-17.65		5,643,482		+101.77
		Cumulative Basis		25,016,875		13,828,203		—		11,676,938		+114.24
Operating Income		2Q		661,713		786,873		-15.91		895,592		-26.11
		Cumulative Basis		1,448,586		786,873		—		2,172,177		-33.31
Income before Income Tax Expense		2Q		683,093		841,111		-18.79		908,324		-24.80
		Cumulative Basis		1,524,204		841,111		—		2,180,434		-30.10
Net Income		2Q		415,496		546,275		-23.94		617,324		-32.69
		Cumulative Basis		961,771		546,275		—		1,504,346		-36.07

The figures above are subject to adjustment as they are preliminary and have not been reviewed by our independent auditors.

We have reflected the results of operations of Woori Aviva Life Insurance (“Woori Aviva”) in each line item of our consolidated income statement, but have not reflected in our net income the net income of Woori Aviva prior to the date of its acquisition. (Date of acquisition: April 1, 2008)

 

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Woori Bank’s Preliminary Financial Performance Figures

for the First Half of 2008

The preliminary financial performance figures for Woori Bank, a wholly owned subsidiary of Woori Finance Holdings, for the six-month period ended on June 30, 2008, on a non-consolidated basis, are as follows.

(Units: millions of KRW, %)

 

Item				2Q 2008		1Q 2008		Change (%)		2Q 2007		Change (%)
Revenue		2Q		8,888,954		11,408,332		-22.08		4,404,170		+101.83
		Cumulative Basis		20,119,973		11,408,332		—		8,860,113		+127.08
Operating Income		2Q		432,261		548,248		-21.16		652,126		-33.72
		Cumulative Basis		980,509		548,248		—		1,755,361		-44.14
Income before Income Tax Expense		2Q		472,284		592,226		-20.25		691,290		-31.68
		Cumulative Basis		1,064,510		592,226		—		1,799,386		-40.84
Net Income		2Q		347,369		444,638		-21.88		529,758		-34.43
		Cumulative Basis		792,007		444,638		—		1,336,326		-40.73

The figures above are subject to adjustment as they are preliminary and have not been reviewed by our independent auditors.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

		Woori Finance Holdings Co., Ltd.
		(Registrant)
Date: July 31, 2008		By:		/s/ Byung-Ho Park
		(Signature)
		Name:		Byung-Ho Park
		Title:		Managing Director

 

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