Woori Bank-KAMCO Join Hands to Revitalize Liquidity-Strapped Companies

Lee Won-duk, President of Woori Bank (right), and Kwon Nam-joo, President of Korea Asset Management Corporation

[Asia Economy Reporter Buaeri] Woori Bank announced on the 13th that it has signed a memorandum of understanding (MOU) with Korea Asset Management Corporation (KAMCO), the first in the banking sector, to activate a lease program.

The two companies agreed to actively cooperate in the activation of the 'Asset Purchase and Lease Program' aimed at improving the financial structure of companies with high potential for business normalization and providing financial support.

The 'Asset Purchase and Lease' program involves KAMCO temporarily purchasing assets from companies experiencing liquidity difficulties and then leasing them back to the companies. This allows companies to secure liquidity through the sale proceeds and quickly normalize their management.

Woori Bank plans to provide rapid financial support and management consulting to companies supported by the 'Asset Purchase and Lease Program.'

Lee Won-deok, CEO of Woori Bank, stated, "We will support the business normalization of companies temporarily facing liquidity difficulties and help maintain and expand employment as well as increase corporate value." He added, "We plan to continuously provide competitive financial services by creating synergy between the two companies."

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