Korea’s Woori Bank installs Reuters’ Kondor+

Korea’s Woori Bank, the country's second largest bank, has signed an agreement with Reuters to use Kondor+ as its risk management tool for derivatives and bond transactions.

ChongYeob Park, general manager, investment banking unit at Woori Bank said that the system would allow the bank to be more competitive in meeting the requirements of its client base, while also enabling the bank to better identify trading opportunities and manage all associated risks in accordance with regulatory requirements.

“After conducting thorough research amongst the risk and trade management products available we choose Reuters Kondor+ because of its flexibility, ability to meet our developing requirements and the quality of support and maintenance provided,” he said.

By using Kondor+, Woori Bank will achieve support for multiple assets, flexible pricing and deal management, along with desktop analytics and trade automation capabilities.

Woori Bank is a unit of Woori Financial Holdings Company, a government-owned financial holding company established in April 2001, and has some 13 million retail customers.