Woori Bank and LH Sign Business Agreement for 'Purchase Commitment Project Financial Support'

Woori Bank signed a "Purchase Agreement Project Financial Support Business Agreement" on the 26th at the LH Seoul Regional Headquarters located in Gangnam-gu, Seoul. Lee Moon-seok (left), Head of Woori Bank IB Group, Ha Seung-ho, Head of LH Housing Welfare Headquarters, and Kim Sung-hoon (right), CEO of Kiwoom Investment Asset Management, are posing for a commemorative photo.

[Asia Economy Reporter Jin-ho Kim] Woori Bank announced on the 27th that it signed a 'Financial Support Agreement for the Purchase Commitment Project' with LH (Korea Land and Housing Corporation) and Kiwoom Asset Management at the LH Seoul Regional Headquarters located in Gangnam-gu, Seoul on the 26th.

At the signing ceremony, Moon-seok Lee, Head of Woori Bank's IB Group, Seung-ho Ha, Head of LH's Housing Welfare Headquarters, and Sung-hoon Kim, CEO of Kiwoom Asset Management, attended. Through this agreement, they agreed to mutually cooperate in providing financial support and promoting the project to revitalize LH's purchase commitment project.

The 'Private Construction Housing Purchase Commitment Project' is a project where LH makes advance purchase commitments for houses planned or under construction by private developers, purchases them after completion, and utilizes them as rental housing. To overcome the jeonse crisis and stabilize housing, LH plans to purchase a record-high 21,000 units this year.

Woori Bank has committed to investing in a private equity fund exclusively for the purchase commitment project managed by Kiwoom Asset Management. The raised fund is expected to be promptly injected into private developers' land acquisition and construction funds, thereby further activating the project.

A Woori Bank official said, "Through this agreement, we will be able to contribute to stabilizing housing for ordinary citizens and simultaneously revitalizing private housing construction projects by providing financial support for LH's purchase commitment project."

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