Woori Bank Partners with SH to Provide Low-Interest Financial Support for Partner Companies

400 Billion KRW in Financial Support for Partner Companies
Lower Loan Rates Funded by Interest Income from Win-Win Deposits

Woori Bank announced on November 4 that it had signed a "Financial Business Agreement for Supporting SH Partner Companies" with Seoul Housing & Communities Corporation (SH).

The signing ceremony was attended by Woori Bank President Chung Jinwan, SH President Hwang Sangha, and key officials from both organizations.

Under the agreement, SH will deposit 20 billion KRW in a fixed-term deposit at Woori Bank, and Woori Bank will use the interest income from this deposit to provide a total of 40 billion KRW in low-interest loans to SH partner companies.

Partner companies with contracts of at least 10 million KRW with SH are eligible to apply for loans of up to 500 million KRW per company, and will receive an interest rate reduction of 1.48 percentage points below the calculated loan rate. Applications for these loans will be accepted at Woori Bank branches nationwide starting December 18.

Through this agreement, Woori Bank plans to provide financial support totaling 40 billion KRW to approximately 1,000 SH partner companies. The goal is to lower financial costs for these companies and improve capital efficiency, thereby contributing to liquidity stability in the construction industry, revitalization of the local economy, and enhancement of financial stability for small and medium-sized enterprises.

Chung Jinwan, President of Woori Bank, stated, "We hope this agreement will provide practical support to our partner companies that continue to work hard despite challenging business conditions. Woori Bank will implement 'productive finance' to support the real economy and do our utmost to ensure the sustainable growth of SH partner companies that are helping to create a happier city in Seoul, especially among small and medium-sized enterprises."

Meanwhile, this agreement was established as part of Woori Financial Group's "Future Co-Growth Project," which aims to provide 80 trillion KRW in productive and inclusive finance and strengthen on-site financial support.

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