Woori Bank-Socar 'Join Hands'... MOU Signed for Shared Platform and Supply Chain Finance

Strengthening Joint Marketing Including Expansion of Product Sales Channels Through the Integration of Finance and Mobility Platforms

Woori Bank signed a business agreement with Socar on the 9th at Woori Bank headquarters for a "strategic partnership in shared platform and supply chain finance." Kwon Kwang-seok (right), President of Woori Bank, is taking a commemorative photo with Park Jae-wook, CEO of Socar.

[Asia Economy Reporter Kim Hyo-jin] Woori Bank announced on the 10th that it has signed a 'Strategic Partnership Agreement on Shared Platform and Supply Chain Finance' with mobility platform Socar.

At the signing ceremony, Woori Bank CEO Kwon Kwang-seok and Socar CEO Park Jae-wook, along with key officials from both companies, attended and agreed to actively cooperate on joint platform marketing and product development by integrating data from both companies.

Socar is the first unicorn company in the mobility industry recognized with a corporate value exceeding 1 trillion KRW and is the number one car-sharing company in Korea.

Under this agreement, Woori Bank plans to enhance convenience by providing financial products and services to Socar users who have expanded into various mobility businesses such as car sharing, used car sales, and designated driver services. Additionally, in collaboration with Woori Card, an affiliate of Woori Financial Group, installment financing will be supported for vehicle purchase customers.

Woori Bank will accelerate the development of supply chain finance products optimized for startups by combining its accumulated financial expertise with Socar's mobility platform data.

CEO Kwon stated, "Through this agreement, we expect customer convenience to greatly increase by supporting the various services promoted by Socar with Woori Bank's financial services," and added, "We will continue to grow together through discovering new business models and joint marketing by combining the data infrastructures of both companies."

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