Woori Financial Group Provides 300 Million KRW Support to Young Entrepreneurs Who Want to Rise Again

[Asia Economy Reporter Song Seung-seop] Woori Financial Group announced on the 1st that it will start the 'Young Entrepreneur Recovery Program' from this month.

This program provides an opportunity for young entrepreneurs whose credit ratings have declined due to business failure to recover. Corporations whose representatives are aged 19 to 39, have closed their business within the last 5 years, and have an external credit rating of grade 6 or lower are eligible to apply. Among the applicants, those with future growth potential will be selected through a special review reflecting non-financial factors. The limit is up to 300 million KRW per case, supported by an installment repayment method within a maximum of 5 years. The program will start on the 3rd.

Son Tae-seung, Chairman of Woori Financial Group, said, "Due to the recent global complex economic crisis, young people in their 20s and 30s and financially vulnerable groups are facing great difficulties," and added, "We will continue to prepare support measures for the youth, starting with the areas where financial support is most urgently needed, such as housing and startups."

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