[Alphabiz=(Chicago) Reporter Kim Jisun] Woori Financial Group has been selected as the preferred bidder for the acquisition of Daol Investment, Daol Financial Group's venture capital.

Daol Financial Group announced on the 17th that it has selected Woori Financial Group as the preferred bidder for the sale of its affiliate Daol Investment. The acquisition amount is around 200 billion won.

Daol Financial Group is said to have selected Woori Financial Group in consideration of the conditions for the acquisition and the future growth potential of Daol Investment.

The two companies signed a binding Memorandum of Understanding (BINDING MOU) to select preferred bidders and will proceed with the sale process in earnest. After signing the MOU, the company plans to conduct the main inspection immediately and complete all sales procedures during the first quarter.

Woori Financial Group will expand its non-banking business portfolio such as securities, insurance, and venture capital (VC) with this acquisition.

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