▲ Woori Card CEO Kim Jung-ki (5th from L) and executives of PT Woori Finance Indonesia Tbk attend the launching ceremony of Woori Card's Indonesian unit on Sept. 20, 2022, in this photo provided by Woori Card. (PHOTO NOT FOR SALE) (Yonhap)

card firm-Indonesian affiliate

Woori Card's Indonesian unit sets sail

SEOUL, Sept. 21 (Yonhap) -- Woori Card, a major card firm in South Korea, said Wednesday its subsidiary firm PT Woori Finance Indonesia Tbk has set sail in Jakarta as it seeks to broaden inroads into the Southeast Asian market.

The launch came about three weeks after the South Korean card issuer took over 82.03 percent of Indonesian financial installment service provider Batavia Prosperindo Finance TBK.

PT Woori Finance Indonesia Tbk marks Woori Card's second acquisition of a Southeast Asian financial firm.

Woori Card acquired Tutu Finance in Myanmar in 2016.

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