Woori Card Provides Special Financial Support for 'New Coronavirus' Damage... "6-Month Payment Deferral"

Support Including Late Interest Exemption and Grace Period for Limit Reduction

[Asia Economy Reporter Ki Ha-young] Woori Card announced on the 6th that it will provide special financial support to help small merchants affected by the spread of the novel coronavirus infection (Wuhan pneumonia).

This financial support is targeted at small merchants with annual sales of 500 million KRW or less whose damage from the novel coronavirus has been confirmed through the Woori Card customer center. From this month until the end of March, card payment amounts billed can be deferred for up to 6 months. For merchants whose payments have become overdue after the damage occurred, applications will be accepted, and upon repayment of unpaid amounts, late interest for up to 3 months will be waived and delinquency records will be deleted.

Regarding card limit reductions, temporary deferrals of up to 6 months will also be provided, and support will be given to allow installment plan changes for lump-sum payments. For merchants using long-term card loans, benefits including extension of repayment periods and changes to loan repayment conditions will be offered.

Additionally, a 2 to 3-month interest-free installment service will be applied to all small merchants until the end of March, supporting marketing for merchants suffering from sales declines. Applications for special financial support can be made by contacting Woori Card’s main phone line.

This content was produced with the assistance of AI translation services.