Woori Bank Strengthens Financial Support for SMEs... Signs Business Agreement with Shinbo

Maximum Guarantee Ratio Increased to 100%
Full Guarantee Fee Support for the First Year

Woori Bank announced on the 6th that it has signed a 'Supply Chain Finance Activation Business Agreement' with the Korea Credit Guarantee Fund to support small and medium-sized enterprises (SMEs) and mid-sized companies.

Supply chain finance is a financial service that provides stable working capital to companies and optimizes the supply chain network from product manufacturing, distribution, to final sales.

Through this agreement, Woori Bank and the Korea Credit Guarantee Fund will expand liquidity support to ensure that SMEs with insufficient financial resources do not face difficulties due to financing, and will mutually cooperate to promote win-win growth between purchasing companies and their partners.

Woori Bank plans to increase the guarantee ratio up to 100% (for 3 years) or fully support the first-year guarantee fee (0.6 percentage points in the second year, 0.3 percentage points in the third year) upon issuance of a guarantee certificate simply by subscribing to Woori Bank’s supply chain management platform, 'OneBiz Plaza,' for SMEs requiring financial support during the purchasing process.

A Woori Bank official stated, “We plan to provide the platform free of charge to SMEs struggling with supply chain management and digital transformation, and further increase social welfare through financial support for financially marginalized companies and mutual growth.”

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