Woori Financial Group Provides Special Support for Heavy Rain Damage... Operating Loans up to 500 Million KRW Available

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group announced on the 3rd that it has donated 100 million KRW to the Korean Red Cross for the rapid recovery and revival of local residents, small business owners, and small and medium-sized enterprises affected by the heavy rain damage, and will provide financial support such as special funds for business stabilization.

Prior to this, Woori Financial Group, in cooperation with the Korean Red Cross, pre-produced disaster relief kits (including blankets, underwear, hygiene products, daily necessities, etc.) to respond quickly to national disasters and calamities, which will be used for evacuees in the affected areas this time. Woori Financial Group will also provide financial support for the restoration of damaged facilities and alleviation of financial costs for the victims of the heavy rain damage.

Woori Bank will support working capital loans within 500 million KRW or facility loans within the recognized damage amount for small business owners and small and medium-sized enterprises affected by the damage. For existing loans, maturity extensions are possible within one year, and installment repayment deadlines can be deferred.

Local residents can also receive financial support such as emergency living fund loans up to 20 million KRW per individual, interest rate reductions up to 1 percentage point, payment of contracted interest upon early termination of savings and deposits, and exemption of counter remittance fees. Woori Bank plans to actively support the revival of small business owners, small and medium-sized enterprises, and local residents by reducing their financial burden through loan interest and fee reductions.

Woori Card will also support customers affected by the heavy rain damage by allowing deferral of card payment settlements. Card payment settlements can be deferred for up to six months, and late interest on payment arrears incurred after the damage will be waived.

A Woori Financial Group official stated, "We plan to provide loan support, interest rate and fee reductions, etc., to local residents, small business owners, and small and medium-sized enterprises going through difficult times," adding, "We want to help damaged companies and residents recover quickly and return to their daily lives."

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