Woori Bank Contributes 8 Billion Won to Shinbo for Financial Support of Vulnerable SMEs

Loan Support Worth 342.2 Billion Won

Woori Bank has signed a business agreement with the Korea Credit Guarantee Fund to support vulnerable small and medium-sized enterprises (SMEs) and has decided to contribute 8 billion KRW.

On the 28th, Woori Bank announced that it signed a "Business Agreement for Financial Support for Core Strategic Industry Companies and Vulnerable SMEs Facing Crisis" with the Korea Credit Guarantee Fund.

The support targets include ▲companies engaged in new growth engine industries, ▲job-creating companies, ▲promising startups, ▲export SMEs and overseas expansion companies, ▲companies in the death valley crisis, and ▲venture companies. Loan applications can be made from this day at Woori Bank branches nationwide or Korea Credit Guarantee Fund offices.

Woori Bank plans to provide loans worth approximately 342.2 billion KRW by implementing measures such as ▲increasing the guarantee ratio (up to 100%), ▲supporting guarantee fees (0.5%p per year, up to 2 years), and ▲reducing Korea Credit Guarantee Fund guarantee fees (0.2%p per year, up to 3 years). To this end, it will contribute a special fund of 6 billion KRW and 2 billion KRW for guarantee fee support to the Korea Credit Guarantee Fund.

A Woori Bank official stated, "Through the business agreement with the Korea Credit Guarantee Fund, Woori Bank aims to be a reliable support for vulnerable SMEs struggling due to domestic and international economic crises," adding, "We will continuously prepare various measures to support vulnerable SMEs and firmly establish our role as a win-win financial institution."

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