Woori Financial Group to Support Building Startup Ecosystem in Chungbuk

Startup Incubation Program, SME Financial Support
Chairman Im Jong-ryong "Expect Strengthened SME Competitiveness"

Woori Financial Group is stepping up financial support to build a regional startup ecosystem. On the 29th, Woori Financial announced that it signed a 'Mutual Cooperation Business Agreement' with Chungcheongbuk-do, which includes operating a startup support program and revitalizing financing for local small and medium-sized enterprises (SMEs).

First, Woori Financial will operate a 'Collaborative Dino Lab (Digital Innovation Lab)' with Chungbuk and the Small and Medium Business Corporation. Dino Lab is Woori Financial's startup incubation program that discovers promising startups and provides office space and management consulting. This time, it will target startups recommended by Chungbuk and the Small and Medium Business Corporation. The plan is to link the 'Collaborative Dino Lab' with Chungbuk's policy projects to support all stages from startup to commercialization.

Specialized financial services for SMEs in the Chungbuk region will also be supported. For companies moving into the 'National Advanced Strategic Industry Specialized Complex' to be established in Chungbuk, Woori Financial will provide funds for leasing and introduce exclusive financial products and customized financial services for SMEs. To enhance the expertise of the local credit guarantee foundation in corporate evaluation, Woori Financial will also offer corporate credit evaluation training programs. Woori Financial Savings Bank, which is based in Chungbuk, plans to launch specialized products for local livestock farmers.

Community contribution activities will also be carried out. Woori Financial will participate in structured financing for the 'Smart Farm Complex' project, one of Chungbuk's key initiatives, and plans to offer nature-oriented travel opportunities for multicultural families and marginalized groups.

At the signing ceremony, Lim Jong-ryong, Chairman of Woori Financial, said, “We have high expectations for the cooperation project with Chungbuk, which is emerging as a domestic advanced industry hub. The mutual cooperation between Woori Financial, which has know-how in supporting companies throughout their life cycle, and Chungbuk will lead to the creation of a healthy corporate ecosystem and strengthening of SME competitiveness.”

Im Jong-ryong, Chairman of Woori Financial Group (left), and Kim Young-hwan, Governor of Chungcheongbuk-do, are taking a commemorative photo after the 'Mutual Cooperation Business Agreement' held at the Chungbuk Provincial Office on the 29th. Photo by Woori Financial Group

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