Woori Financial Group "Investing 23 Trillion Won Over 3 Years to Support Vulnerable Groups"

Son Tae-seung, Chairman of Woori Financial Group

[Asia Economy Reporter Song Seung-seop] Woori Financial Group announced on the 17th that it will carry out a financial support project worth 23 trillion KRW over three years to assist vulnerable groups facing economic difficulties. The affiliated companies participating primarily include four group companies: Woori Bank, Woori Card, Woori Financial Capital, and Woori Financial Savings Bank.

The "Woori Together, Let's Cheer Up! Win-Win Finance Project" promoted by Woori Financial Group will be implemented in three sectors. Approximately 1.7 trillion KRW will be invested to alleviate the burden on vulnerable groups. Through this, support will be provided such as loan principal reductions for low-credit, diligent borrowers, preferential interest rates, and fee exemptions for vulnerable borrowers. In the youth and small business funding sector, support worth 17.2 trillion KRW will be provided. Plans include loan support for youth housing stability, a youth entrepreneur recovery program, and support projects for small business stabilization funds. Additionally, to expand financial services for the common people, products such as Sae Hope Holssi Loans and Sunshine Loans will be expanded and operated on a scale of 3.5 trillion KRW.

The group will also expand direct support projects involving affiliated companies. Various social contribution activities worth 500 billion KRW will be promoted over the next three years, including donations to vulnerable groups and local communities. Through the Woori Financial Future Foundation, which was approved for establishment on the 28th of last month, support for the self-reliance and welfare services of vulnerable groups will be provided, and in connection with local communities, efforts will be made to improve the business environments of small merchants. Intensive support projects for vulnerable groups will be actively pursued in the second half of this year.

It is known that Chairman Sohn Tae-seung of Woori Financial issued a special directive for all group companies to participate in supporting vulnerable groups. Chairman Sohn stated, “I will personally oversee this project to ensure it provides practical help to vulnerable groups,” and added, “Based on the philosophy that the economy can revive only when the common people and vulnerable groups stand up again and the middle class expands, we will actively cooperate with future government policies.”

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