On July 1, Woori Financial held a ceremony to mark the relocation of the Woori Microfinance Foundation to Changsin-dong. This move is the first implementation of the 'Microfinance Infrastructure Strengthening Plan' announced by Woori Financial in March.
Changsin-dong is an area densely populated with traditional markets and garment workers. The foundation plans to offer on-site consultations by having staff visit small business owners who find it difficult to visit the branch due to their work commitments. The number of foundation branches will also expand from the current eight to twelve.
On the same day, Woori Financial unveiled its specialized social contribution program, 'Our New Hope Store.' This initiative supports young entrepreneurs and small business owners who have diligently repaid their microfinance loans by providing assistance with business promotion, operational supplies, and stabilization funds.
During the event, Lim Jong-ryong, chairman of Woori Financial Group, and Kim Eun-kyung, head of the Korea Financial Services Agency and Credit Recovery Commission, distributed support items to young entrepreneurs who have faithfully repaid their microfinance loans and visited the first 'Our New Hope Store' in Changsin Alley Market to hear the concerns of small business owners.
Woori Financial plans to increase its annual microfinance supply to 20 billion won by 2028, with a goal of raising the proportion of support for young people to 50%. To achieve this, the group will contribute an additional 100 billion won to the Woori Microfinance Foundation.
Lim Jong-ryong stated, "The relocation of the Woori Microfinance Foundation's Seoul branch marks a new beginning to get closer to small business owners and the underprivileged who need microfinance. We will continue to expand microfinance support centered on local communities and on-site operations to faithfully realize the value of inclusive finance."
* This article has been translated by AI.
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