SMBC and Woori Bank Join Hands to Foster Strategic Industry SMEs Outside the Seoul Metropolitan Area

SMBC Recommends Companies, Woori Bank Provides Preferential Interest Rates and Support
"We Will Do Our Best to Foster a Mutually Beneficial Cooperative Ecosystem"

The Small and Medium Business Corporation announced on October 30 that it had signed a "business agreement for fostering small and medium venture enterprises in strategic industries outside the Seoul metropolitan area" with Woori Bank at the Woori Bank headquarters in Jung-gu, Seoul.

This agreement was pursued to strengthen the growth foundation of strategic industry companies outside the metropolitan area and to promote balanced regional development. Under this public-private cooperation model, the Small and Medium Business Corporation will promote the project and discover and recommend outstanding companies outside the metropolitan area. Woori Bank (the private sector) will provide preferential interest rates, increased facility funding limits, and support through internal programs, mainly via its six regional BIZ Prime Centers nationwide.

On the 30th, at the Woori Bank headquarters in Jung-gu, Seoul, Ban Jeongsik, Director of Regional Innovation at the Small and Medium Business Corporation (left), and Bae Yeonsu, Vice President of Woori Bank, are posing for a commemorative photo after signing a business agreement. Small and Medium Business Corporation

The two organizations plan to operate a quarterly working-level consultative body to share the results of their cooperation. They also intend to expand field-oriented collaborative activities to build a regional growth ecosystem, including at the "Regional Innovation Communication Forum" to be held in Busan on October 31.

Bae Yeonsu, Vice President of Woori Bank, stated, "Through this cooperation with the Small and Medium Business Corporation, we will realize a new inclusive financial model where the public and private sectors work together to achieve balanced regional development."

Ban Jeongsik, Director of Regional Innovation at the Small and Medium Business Corporation, said, "This agreement marks a new turning point for public-private cooperation to strengthen the growth foundation of small and medium venture companies in strategic industries outside the metropolitan area. We will do our utmost to create a mutually beneficial cooperative ecosystem so that regional small and medium enterprises can grow as core players in the national strategic industries."

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