Woori Bank Provides 110 Billion KRW Financial Support to Industrial Complex Tenants... "Building an Innovative Industry Ecosystem"

Woori Bank is stepping up to support small and medium-sized enterprises (SMEs) in order to build an innovative industrial ecosystem. On the 30th, Woori Bank announced that it signed a "Financial Support Business Agreement" with the Korea Credit Guarantee Fund (KODIT) and the Korea Industrial Complex Corporation (KICOX) at its headquarters in Jung-gu, Seoul on the 29th.

Woori Bank plans to offer preferential loan interest rates and guarantee fee support to companies located in industrial complexes recommended by KICOX. KODIT will issue loan guarantees to these companies.

To this end, Woori Bank will contribute 2 billion KRW as a special endowment and 1 billion KRW for guarantee fee support to KODIT, which will be used to back loans totaling 110 billion KRW. The plan includes ▲increasing the guarantee ratio (up to 100%) ▲supporting guarantee fees (0.8 percentage points annually, for up to 2 years) ▲reducing KODIT guarantee fees (0.2 percentage points annually, for up to 3 years).

The support targets SMEs located in industrial complexes nationwide that ▲operate in new growth engine industries ▲are export companies ▲create employment ▲operate in regional key industries ▲possess ESG (environmental, social, and governance) management capabilities. Loan applications are accepted starting today, and application details can be found on the Korea Industrial Complex Corporation website.

A Woori Bank official stated, “Through this business agreement, Woori Bank will collaborate with KODIT and KICOX to build an innovative industrial ecosystem and provide smooth and prompt financial support to companies in industrial complexes that possess future growth engines. We plan to continue cooperating with various institutions to support the innovative growth of SMEs.”

Woori Bank signed a financial support business agreement with the Korea Credit Guarantee Fund and the Korea Industrial Complex Corporation on the 29th at Woori Bank headquarters to support the establishment of an innovative industry ecosystem and sustainable management. From the left, Choi Wonmok, Chairman of the Korea Credit Guarantee Fund; Jo Byungkyu, President of Woori Bank; Lee Sanghoon, Chairman of the Korea Industrial Complex Corporation. Photo by Woori Bank

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