Woori Bank to Support Social Economy Enterprises with Up to 20 Million Won in Funding

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Woori Bank announced on November 25 that it had signed a business agreement with the Korea Social Enterprise Promotion Agency for the "2025 Woori Impact Challenge Contest" project, aimed at revitalizing the social economy ecosystem and supporting vulnerable groups.

The "2025 Woori Impact Challenge Contest" is a project designed to discover and support social economy enterprises that create social value, such as supporting vulnerable groups, care, and welfare. Eligible applicants include social enterprises (including preliminary social enterprises), cooperatives, village enterprises, self-support enterprises, and social ventures that have been incorporated for at least two years. Ten companies with outstanding records in supporting vulnerable groups will be selected.

Since 2013, Woori Bank has been working with the Ministry of Employment and Labor to foster the social enterprise ecosystem through long-term financial support for social enterprises. Through this agreement, a stable growth foundation for social economy enterprises is expected to be established, which will expand services supporting vulnerable groups in areas such as care, education, environment, and employment within local communities.

Furthermore, the participation of private finance in building the social enterprise ecosystem is significant, as it contributes to the spread of a social impact finance model that addresses social and economic issues through finance, and systematizes the cooperation structure among finance, the public sector, and the social economy, thereby expanding inclusive finance.

This contest will accept applications until December 16, and selected companies will receive project funding ranging from 10 million to 20 million won. For more details, please refer to the Korea Social Enterprise Promotion Agency website or Woori Bank's internet banking site under Woori News.

A Woori Bank representative stated, "Woori Financial Group is promoting the 'Woori Financial Group Future Mutual Growth Project,' which will invest a total of 80 trillion won over the next five years to expand productive and inclusive finance," adding, "Woori Bank will also strive to fulfill its social responsibility as a financial institution by supporting social enterprises."

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