Woori Financial “Soon Announcing Win-Win Financial Measures That Meet the Public's Expectations”

Focus on Improving Existing Products and Alleviating Interest and Delinquency Burdens for Vulnerable Groups such as Small Business Owners, Self-Employed, and Youth

Woori Financial Group is set to soon introduce additional win-win financial measures targeting vulnerable groups such as small business owners, self-employed individuals, and youth. On the 3rd, Woori Financial announced that it held an emergency meeting chaired by Chairman Lim Jong-ryong to review the progress of the win-win finance initiative and discuss expansion plans.

Chairman Lim stated, “Woori Financial is a bank that was revived with the help of the people during difficult times, so we must repay the public with sincere win-win finance.” He added, “In addition to fulfilling the promises made in the previous win-win finance announcement, we need to find better solutions that meet the public’s expectations and provide practical assistance as soon as possible.”

Woori Financial explained, “The additional win-win finance measures being prepared focus on product improvements and alleviating the burdens of people suffering from interest rate hikes or loan delinquencies.” They further elaborated, “In particular, we have completed the basic design of a customized win-win finance package for vulnerable groups such as small business owners, self-employed individuals, and youth who are suffering from economic recession and high interest rates, and are currently refining the details.”

Since Chairman Lim’s appointment in March, Woori Financial has been establishing and implementing win-win finance measures. Woori Bank has been promoting the annual 205 billion KRW-scale ‘Woori Win-Win Finance 3·3 Package,’ which includes interest rate reductions, and had disbursed 150.1 billion KRW by the end of September.

Additionally, Woori Card provided 135 billion KRW to 16,000 financially vulnerable individuals and small business owners by the end of October, and Woori Financial Savings Bank supplied 52.6 billion KRW (a 219% increase compared to the end of March) through win-win finance products such as Sunshine Loans and Saetdol 2.

On the same day, Jo Byung-kyu, President of Woori Bank, also convened an emergency executive meeting to encourage the expansion of win-win finance.

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