PropertyApr 26, 2026, 05:23 AM
WF Revalues Land Assets, Boosting Equity by KRW 1.79T
AI Summary
Woori Financial Group Inc. conducted a revaluation of 318 land properties, including a key parcel in Seoul, to reflect fair value under K-IFRS and enhance its financial structure. This revaluation resulted in a KRW 2.47 trillion increase in land properties, leading to a provisional KRW 1.79 trillion increase in equity (revaluation surplus) and a KRW 676.6 billion increase in deferred tax liabilities. The revaluation difference accounts for 0.40% of the company's total assets.
Key Highlights
- Revalued 318 land parcels, including 203 Hoehyeon-dong, Jung-gu, Seoul, with a revaluation base date of March 31, 2026.
- The revaluation difference for land properties amounted to KRW 2,468,505,135,155.
- Provisional accounting shows an increase in assets (land) of KRW 2,468.5 billion.
- Provisional accounting shows an increase in equity (revaluation surplus) of KRW 1,791.9 billion.
- Provisional accounting shows an increase in deferred tax liabilities of KRW 676.6 billion.
- The revaluation difference represents 0.40% of the company's total assets.
- The revaluation surplus is not considered profit distributable as dividends under Korean Commercial Code.
Price Impact
More from WF