This report does not constitute a rating action. ALAC--Additional loss-absorbing capacity. CRA--Comparable ratings analysis. GRE--Government-related entity. ICR--Issuer credit rating. SACP--Stand-alone credit profile. Overview Key strengths Key risks Strong support from Woori Financial Group Inc., as a core subsidiary Asset quality pressure arising from Korean households' high indebtedness amid a rise in domestic interest rates Adequate capital buffer relative to risk profile Material deterioration in property market conditions that could strain real estate project financing Solid business presence in installment financing, especially the auto financing market High dependence on wholesale funding We expect the company to play a crucial role in the group's efforts to diversify its business structure and revenue streams. Woori Financial Capital specializes in auto and corporate financing,
