Woori Financial Goodwill Store Presents Specialized Business Model at Invitation of U.S. Headquarters

Official Invitation from Goodwill Store Headquarters in the United States

Woori Financial Group announced on the 22nd that it visited the headquarters of Goodwill Store in Rockville, Maryland, USA last week, where Chairman Lim Jongryong gave a lecture to CEO Steven Preston and local staff about the "Woori Financial-Style Goodwill Store" business model.

This visit was made possible by the official invitation from Goodwill Store headquarters, recognizing the "Woori Financial-Style Goodwill Store" as a successful model for building a job ecosystem for people with developmental disabilities.

During the lecture, Chairman Lim Jongryong provided a detailed introduction to Woori Financial Group, the achievements of collaborative projects between Woori Financial and Goodwill Store, efforts to spread a culture of giving such as the installation of "Goodwill Donation Boxes," and various business models unique to Woori Financial, including strategies to improve financial accessibility for vulnerable groups through Goodwill Store.

Goodwill Store executives and staff in the United States who attended the lecture expressed great interest and praise for Woori Financial's proactive social contribution activities and innovative model.

CEO Steven Preston stated, "The Woori Financial-Style Goodwill Store is a successful model for the independence of people with developmental disabilities," adding, "We will introduce it to Goodwill organizations worldwide as an exemplary case."

Although Goodwill Store originated in the United States, Woori Financial has combined it with the characteristics of the financial industry, transforming it into an upgraded social contribution model.

Woori Financial's public interest foundation, Woori Financial Future Foundation, signed a business agreement with Milal Welfare Foundation in 2023 to build a job ecosystem for people with developmental disabilities. Based on this agreement, Woori Financial committed to investing a total of 30 billion won over 10 years to support the establishment of 100 Goodwill Store locations.

Specifically, the group plans to establish at least six new stores each year and provide first-year salary support for employees with developmental disabilities, serving as a catalyst for their stable independence. In addition, to encourage a culture of everyday giving, "Goodwill Donation Boxes" have been installed at Woori Bank ATMs, and a donation channel has been created on the group's main app, "Woori WON Banking."

In particular, the model of maintaining operations by downsizing branches scheduled for closure and introducing Goodwill Store in a "Shop-in-Shop" format has achieved a dual social contribution effect: improving financial accessibility for vulnerable groups and creating jobs for people with disabilities.

Chairman Lim Jongryong of Woori Financial Group stated, "Woori Financial, with its 126-year history and tradition, and Goodwill Store share the common goal of supporting the independence of people with developmental disabilities," adding, "We will become a leading global financial group moving boldly toward this noble goal."

Meanwhile, Goodwill Store is a workplace for people with disabilities and a donation-based retail store that employs people with developmental disabilities using proceeds from the sale of goods donated by companies and individuals.

Since its founding in Boston, USA in 1902, Goodwill Store has established itself as a global social contribution model through a virtuous cycle of donation, recycling, and job creation. Currently, there are 165 branches and over 3,300 stores worldwide, including the United States and Canada. In Korea, 46 stores employ over 500 people with developmental disabilities, helping them pursue their dreams of independence.

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