Woori Bank Directly Invests Up to 1 Billion KRW in Innovative Growth SMEs

Selected Small and Medium Enterprises with Innovation and Growth Potential

[Asia Economy Reporter Jin-ho Kim] Woori Bank announced on the 21st that it will conduct the "8th Public Offering for Investment Target Companies to Support the Growth of Small and Medium Enterprises" from the 23rd of this month to the 6th of next month to actively promote the innovative growth of SMEs.

Since June 2018, Woori Bank has been implementing a system to directly invest in small and medium enterprises with high growth potential in response to the government's "Korean New Deal" and "Economic Growth through Innovation." Through a total of seven public offerings until the first half of this year, it has invested in 64 companies, approximately 62 billion KRW, actively supporting the innovative growth of SMEs.

The recruitment targets are small and medium corporations with innovation and growth potential, such as venture companies and startups, and applications are possible even if there is no financial transaction with Woori Bank. Detailed information such as submission documents and application methods can be confirmed through Woori Bank's internet banking and Woori Won Banking.

Woori Bank plans to select about 10 investment target companies in the second half of this year through internal screening stages such as technology and business feasibility evaluations. It plans to directly invest up to 1 billion KRW in each company through methods such as Redeemable Convertible Preferred Shares (RCPS).

A Woori Bank official said, "We plan to support innovative companies with excellent technologies related to the Korean New Deal sector to grow into core companies of our economy through continuous direct investment."

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