Woori Bank Provides 500 Billion KRW Financial Support to Help Export-Import Companies Overcome Crisis

Woori Bank announced on the 19th that starting January next year, it will provide financial support worth approximately 500 billion KRW, including foreign currency loans and fee discounts, to help export-import companies overcome crises and strengthen the competitiveness of national strategic industries.

First, Woori Bank will supply liquidity of up to 500 million KRW per company as a 'Special Management Stability Support' to export-import companies facing difficulties in securing operating funds due to recent exchange rate increases.

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

For export companies, a total of 270 billion KRW in loans secured by guarantees from the Korea Trade Insurance Corporation will be provided to support export activation. Additionally, for import companies, support measures such as ▲pre-approval of foreign currency loan limits ▲up to 1% discount on letter of credit issuance and acceptance fees will be offered to help prepare for funding needs arising from exchange rate fluctuations.

Furthermore, various benefits such as ▲loan limit and interest rate discounts ▲remittance fee discounts ▲exchange rate preferential treatment will be provided to export-import companies. At the head office, a dedicated team will be operated to support smooth export-import transactions and offer free customized product consulting.

A Woori Bank official stated, “In an environment where domestic and international uncertainties have recently increased, we will actively support export-import companies to overcome crises and secure competitiveness,” adding, “Woori Bank will listen carefully to the voices of companies, which are the backbone of the national economy, and do its best to provide practical assistance.”

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