Woori Financial Group Supports Youth Dreams... MOU Signed for Self-Reliant Youth Support Project

Participation in Blockchain Technology Project Hosted by Ministry of Science and ICT and Korea Internet & Security Agency

Woori Financial Group (Chairman Sohn Tae-seung)'s subsidiaries Woori FIS (CEO Ko Jung-hyun) and Woori Asset Management (CEO Choi Young-kwon) signed an MOU on the 15th to establish a 'Donation Fund-Linked Blockchain Platform' project together with IT Nomads and World Vision. From the left, IT Nomads CEO Kim Sung-jin, Woori FIS CEO Ko Jung-hyun, World Vision Chairman Cho Myung-hwan, and Woori Asset Management CEO Choi Young-kwon are posing for a commemorative photo.

[Asia Economy Reporter Sim Nayoung] Woori Financial Group (Chairman Sohn Tae-seung)'s subsidiaries Woori FIS (CEO Ko Jung-hyun) and Woori Asset Management (CEO Choi Young-kwon) announced on the 16th that they signed an MOU on the 15th with IT Nomads and World Vision to establish a 'Donation Fund-linked Blockchain Platform'.

This project is a blockchain-based pilot and dissemination national research project in the private sector led by the Korea Internet & Security Agency and the Ministry of Science and ICT, and it is the first project in the financial sector to support self-reliant youth (protected children aging out).

Self-reliant youth refers to young people who have been under protection in child care facilities, group homes, foster care, etc., and who start living independently after turning 18 and aging out of protection.

Woori FIS is building the platform by incorporating digital new technologies such as blockchain technology, NFTs (virtual tokens that prove ownership of digital assets using blockchain technology), and donation DAOs (organizational forms where people with common goals gather to make joint investments based on blockchain technology) to ensure transparent management of donations, while Woori Asset Management operates the fund to support self-reliant youth.

The profits generated from fund operation will be used for the self-reliant youth (protected children aging out) support project of the NGO World Vision, a social welfare corporation.

Ko Jung-hyun, CEO of Woori FIS, stated, "We will continue to practice ESG management by nurturing talent in future new technology fields such as artificial intelligence, big data, and cloud computing so that self-reliant youth do not fall behind in the Fourth Industrial Revolution technologies and can become socially independent."

Choi Young-kwon, CEO of Woori Asset Management, said, "We hope that the donation fund operated based on sustainable investment will become a stepping stone for the future and growth of self-reliant youth," and added, "We hope this project will lead to the development of donation methods and increased interest in self-reliant youth."

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