Woori Bank Directly Discovers Startups... Up to 1 Billion KRW Direct Investment

Open for Submissions Until August 19

[Asia Economy Reporter Minwoo Lee] Woori Bank has decided to directly invest up to 1 billion KRW in startups.

Woori Bank announced on the 7th that it will hold the "10th Public Offering for Investment Target Companies to Support the Growth of Small and Medium Enterprises" until the 19th.

The recruitment targets are small and medium-sized corporations with innovation and growth potential, such as startups. Applications are possible even without a financial transaction history with Woori Bank, and detailed information such as submission documents and application methods can be found in the ‘Woori News’ section of Woori Bank’s internet banking.

Woori Bank plans to select about 10 investment target companies by December through internal screening stages such as technology and business feasibility evaluations. Afterwards, it plans to invest funds up to 1 billion KRW in each company through methods such as Redeemable Convertible Preferred Shares (RCPS).

Since June 2018, Woori Bank has established and operated a system to directly invest in small and medium enterprises with high growth potential. Up to the first half of this year, it has held nine public offerings, investing in 83 companies with approximately 80.7 billion KRW.

A Woori Bank official said, "We plan to support innovative companies with excellent technology to grow into core companies of our economy through continuous direct investment."

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