SMBC Signs "Woori Win-Win Tomorrow Mutual Aid" Business Agreement with Woori Bank

First Collaborative Win-Win Mutual Aid Model Established Among Financial Institutions

On September 17, the Small and Medium Business Corporation announced that it had signed a "Woori Win-Win Tomorrow Mutual Aid" business agreement with Woori Bank.

This agreement marks the first-ever collaborative win-win mutual aid model promoted among financial institutions. The two organizations will jointly contribute 7.5 billion won over five years to support the contributions of companies participating in the mutual aid program.

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The "Woori Win-Win Tomorrow Mutual Aid" targets small and medium-sized enterprises and employees who use Woori Bank as their payroll account. When an employee deposits 100,000 won each month, Woori Bank supports a portion of the company's contribution, which is set at 240,000 won. The accumulated amount is paid to long-term employees after three years (12.24 million won), four years (16.32 million won), or five years (20.4 million won), along with additional compound interest.

Depending on eligibility, companies can enroll in the basic, advanced, or joint types of the mutual aid program. In the basic type, if an employee deposits 100,000 won per month, Woori Bank matches this amount for the company for six months. The advanced type provides an additional 100,000 won per month for 12 months to companies that meet export-import transaction records or use supply chain payment solutions, provided they are recommended by Woori Bank and already enrolled in the basic type. The joint type is available to advanced type participants who meet Woori Bank's recommendation criteria. In this case, the Small and Medium Business Corporation also provides an additional 100,000 won per month for 12 months toward the company's contribution, allowing companies to receive up to 2.4 million won in benefits from both organizations. However, for the joint type, support is limited to 250 participants among those who enroll this year.

Information and applications for the mutual aid program are available at all Woori Bank branches nationwide. Full-scale recruitment will begin following this agreement. Woori Bank will review eligibility and recruit companies and employees, while the Small and Medium Business Corporation will make the final selection.

Cho Hankyo, Director of Human Resources Growth at the Small and Medium Business Corporation, stated, "The workforce challenges faced by small and medium-sized enterprises are difficult for a single organization to resolve. This agreement represents an important starting point in seeking solutions together with private financial institutions. Moving forward, we will continue to combine policy support and private sector cooperation to create an environment in which core personnel at small and medium-sized enterprises can grow stably."

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