Woori Financial Makes First-Ever 200 Billion Won Investment in National Growth Fund in Financial Sector

400 billion won investment in sub-funds created by private financial institutions
Preemptive 200 billion won allocation to accelerate participation
Full contribution from Woori Financial affiliates with no external investors

Woori Financial Group will create the 2 trillion won "Woori National Growth Matching Fund," the first of its kind in the Korean financial sector. This is a preemptive measure to align with the government's policy of mutually beneficial and inclusive finance and to accelerate participation in the National Growth Fund.

Woori Financial announced on February 11 that, of its planned investment of about 4 trillion won in sub-funds related to the National Growth Fund, it has decided to allocate approximately 2 trillion won to establish the Woori National Growth Matching Fund in order to speed up its participation.

Previously, in September last year, Woori Financial Chairman Lim Jongryong unveiled the "Woori Financial Future Co-Growth Project" and announced that, as the first private financial company to do so, the group would inject 10 trillion won over five years into the government's 150 trillion won National Growth Fund.

Woori Financial plans to supply capital to future strategic industries such as broad-based industrial support, scaling up, and ultra-long-term technologies by having group affiliates including Woori Bank, Woori Financial Capital, and Woori Investment & Securities fully fund the Woori National Growth Matching Fund without relying on external investors.

In addition, Woori Asset Management, an affiliate of Woori Financial, has submitted a proposal to participate in the selection of sub-fund managers in the indirect investment fiscal mother fund segment of the National Growth Fund, which is responsible for managing the government's fiscal contributions and, together with Korea Development Bank, selecting sub-fund managers as a general partner (GP).

Woori PE and Woori Venture Partners also plan to take part in the selection of sub-fund managers. Woori Financial explained that, to enable swift matching investments, the group intends to enhance synergies among its affiliates so that they can serve as a catalyst for fund formation.

Park Hyebin, Team Leader of the Productive Finance Investment Department at Woori Bank, said, "This Woori National Growth Matching Fund is highly meaningful in that the financial sector is the first to prime the pump so that the government-led National Growth Fund can take root successfully in the market," adding, "Woori Financial will go beyond simple capital provision to serve as a catalyst that draws in private investment and become a strong partner leading the growth of South Korea's future strategic industries."

Meanwhile, last year Woori Financial announced the "Future Co-Growth Project" and established the Productive Finance Investment Department directly under the IB Group to strengthen its control tower function. The group stated that this year it will lead the private sector by concentrating a total of 3.4 trillion won in productive finance, including 2 trillion won from the National Growth Fund and 1.4 trillion won from the group's own investments.

In addition, Woori Financial is pursuing a total of 7 trillion won in group proprietary investments, including the 2 trillion won first group co-investment fund "Woori Future Co-Growth Advanced Strategy Fund" established in December, and has finalized investment destinations related to the ten advanced strategic industries proposed by the government, continuing to provide active support.

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