Woori Bank "Let's Speed Up COVID-19 Damage Support"... 150 Employees Dispatched to Local Credit Guarantee Foundation

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group announced on the 15th that starting from the 16th, it will dispatch about 150 Woori Bank employees to regional credit guarantee foundations, beginning with the Daejeon and Jeonbuk Credit Guarantee Foundations, to support the foundations' issuance of guarantee certificates for companies affected by the novel coronavirus infection (COVID-19).

According to Woori Financial Group, Chairman Sohn Tae-seung recently received feedback that small business owners severely impacted by COVID-19 have to wait several months to receive loan support linked with credit guarantee foundations. In response, in addition to the existing 'guarantee service agency,' he decided to dispatch Woori Bank's specialized small and medium enterprise loan staff directly to the guarantee foundations.

Chairman Sohn said, "Rapid financial support is the top priority for small businesses and small merchants struggling due to the spread of COVID-19 damage."

Accordingly, starting from the 16th, Woori Bank will dispatch employees to the headquarters and branches of the Daejeon and Jeonbuk Credit Guarantee Foundations, and plans to expand the dispatch to a total of 150 employees nationwide to all credit guarantee foundations.

The dispatched employees will perform all tasks except for the review process, from guarantee consultation to contract signing, on behalf of the foundation staff for small business owners affected by COVID-19. This will allow the foundation staff to focus on guarantee reviews and support the prompt issuance of guarantee certificates.

Woori Financial Group also plans to expand the 'guarantee service agency,' which allows bank branches to receive guarantee documents and conduct on-site inspections, from the current 11 regional foundations to all 16 regional credit guarantee foundations nationwide.

A Woori Financial Group official stated, "We will actively provide measures for all group companies to support small business owners affected by the economic downturn and weakened consumer sentiment, not only through finance but also through comprehensive group-wide support."

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