Woori Financial Group announced Sunday a significant expansion of its “Future Shared Growth Project,” committing an additional 10 trillion won ($6.5 billion) in funding. This substantial investment aims to bolster support for key strategic industries, vital small businesses, and financially vulnerable borrowers across the nation.
A significant portion of this expanded commitment, 9.4 trillion won, will be strategically allocated to productive financing initiatives over the next two years. This includes 5.7 trillion won earmarked for this year and a further 3.7 trillion won in 2027. These crucial funds are designated to empower strategic industries, boost exporters, and invigorate regional economies, thereby enhancing essential capital flows into the real economy.
Furthermore, Woori Financial Group will dedicate an additional 600 billion won to inclusive finance programs, specifically expanding vital policy loans designed for low-income households. When combined with its existing midrate loan offerings, enhanced support for small businesses, and the cancellation of 280 billion won in long-overdue debt, Woori projects its total inclusive finance support for this year to reach an impressive 3.5 trillion won, significantly surpassing its initial target of 1.2 trillion won.
Demonstrating this commitment, Woori’s various affiliates have already broadened their support through innovative financial products. Woori Bank, for instance, has implemented a 7 percent interest-rate cap on unsecured personal loans, effectively lowering borrowing costs for approximately 46,000 customers. Additionally, its “Woori WON Dream” emergency living expense loan has successfully provided much-needed financing to around 3,000 borrowers, utilizing an advanced alternative credit-scoring model to reach a wider demographic.
Complementing these efforts, Woori Savings Bank has also significantly expanded its policy-backed midrate lending and comprehensive debt-relief programs, specifically targeting financially vulnerable customers.
“These expanded targets underscore Woori Financial Group’s unwavering commitment to robustly supporting the real economy and empowering vulnerable groups within our society,” stated Chairman Yim Jong-yong.
He further emphasized, “It is crucial for each affiliate to continuously develop innovative financial products that directly benefit our valued customers.”
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