Woori Financial Group Discusses Win-Win Finance Even on Weekends... Seeking Answers On-Site

Woori Financial Group continued discussions on win-win finance over the weekend. As Chairman Lim Jong-ryong emphasized "practical win-win finance that meets the public's expectations," executives and department heads decided to visit the field directly to listen to small business owners and self-employed individuals about what measures are needed.

According to the financial sector on the 5th, each affiliate of Woori Financial worked over the weekend to continue discussions related to win-win finance issues. Following the "Emergency Win-Win Finance Countermeasure Meeting" held on the 3rd under Chairman Lim's leadership with representatives from all affiliates, they have been consecutively seeking solutions for win-win finance. In accordance with Chairman Lim's order that "the promise of promoting win-win finance made to the public must be kept," they reviewed the current status of win-win finance implementation.

Woori Bank, Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

In the case of Woori Bank, they plan to strengthen the existing Win-Win Finance Department by launching a Win-Win Finance Task Force Team (TFT). The TFT team leader will be appointed at the executive level, and related departments such as personal, small and medium enterprises, credit, risk, finance, and branding will participate regularly to accelerate the promotion of win-win finance.

In particular, Woori Bank has set a win-win finance package that adds support for financially vulnerable groups such as small business owners, self-employed individuals, and youth as a core theme, and is reviewing the expansion of low-interest refinancing loans to reduce the interest burden on existing loan borrowers. For small business owners going through difficult times due to delinquencies caused by COVID-19 and the triple high phenomenon,

they are even considering interest exemptions. Additionally, for self-employed individuals, they are contemplating introducing special preferential interest rates on demand deposit accounts, and for youth taking their first steps into society, they are considering expanding youth-exclusive loan limits, interest cashback, and partial reductions.

Woori Card is considering extending support programs for vulnerable groups, such as expanding debt reduction rates and low-interest refinancing loans called "Win-Win Loans," which were scheduled to end by the end of this year, into next year. Woori Financial Savings Bank plans to continue expanding specialized win-win finance products such as Sunshine Loans and Saetdol Loans, which have been increased through platform partnerships, and provide various financial services for ordinary citizens. Woori Financial Capital is reviewing the launch of specialized products for small business owners and vulnerable borrowers that reflect voices from the field.

A Woori Financial Group official stated, "The essence of finance is trust, and win-win finance is the mission of a financial company trusted by the public," adding, "We will carefully manage win-win finance so that citizens who need financial benefits do not feel inconvenience or exclusion and fulfill the promises made to the public." He continued, "Woori Financial plans to jointly announce the expansion plans for win-win finance by each affiliate after thoroughly reviewing their effectiveness, and will focus on substance as much as on speed."

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