(3) Transfer prices of the unlisted companies becoming
wholly-owned
subsidiaries
In accordance with Article
165-4
of the Financial Investment Services and Capital Markets Act and
Article
176-5
of its Enforcement Decree, the intrinsic value of each unlisted company was determined by calculating the weighted average of the asset value and the earnings value after applying a factor of 1
and 1.5, respectively thereto, pursuant to Article
176-5
of the Enforcement Decree of the Financial Investment Services and Capital Markets Act, Article
5-13
of the
Regulation on Securities Issuance and Disclosure and Articles 4 through 8 of its Detailed Enforcement Rules.
(A) Transfer price of Woori FIS
Asset value: Won 6,642
Earnings value: Won
3,699
Intrinsic
value: Won 4,876
Transfer price: Won 4,876
(B) Transfer price of Woori Finance
Research Institute
Asset value: Won 5,734
Earnings value: Won
1,293
Intrinsic
value: Won 3,069
Transfer price: Won 3,069
(C) Transfer price of Woori Credit
Information
Asset
value: Won 27,035
Earnings value: Won 11,879
Intrinsic value: Won
17,941
Transfer
price: Won 17,941
(D) Transfer
price of Woori Fund Services
Asset value: Won 5,706
Earnings value: Won
8,954
Intrinsic
value: Won 7,655
Transfer price: Won 7,655
(E) Transfer price of Woori Private
Equity Asset Management
Asset value: Won 6,704
Earnings value: Won
(2,091)
Intrinsic
value: Won 1,427
Transfer price: Won 1,427
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