On June 15, Woori Bank signed a memorandum of understanding (MOU) with Hyosung Group at the group's headquarters in Mapo, Seoul. The ceremony was attended by key executives from both companies, including Woori Bank CEO Jeong Jin-wan and Hyosung Group Vice Chairman Lee Sang-woon.
This agreement is part of Woori Financial Group's ongoing 'Future Co-Growth Project,' which aims to provide a total of 80 trillion won over five years for productive finance (73 trillion won) and inclusive finance (7 trillion won) by 2030.
Under the MOU, Woori Bank plans to provide a total of 2 trillion won in financial support over the next five years. This funding will be allocated to major subsidiaries of Hyosung Group, including Hyosung Heavy Industries, Hyosung TNC, and Hyosung NeoChem.
Notably, the bank will implement a 'pre-approved credit limit' system during the investment planning phase to reduce uncertainties in funding procurement.
Noh Yong-pil, head of Woori Bank's corporate sales strategy division, stated, "This agreement is significant as it supports future investments by companies through proactive financial assistance. We will provide optimal financial solutions to enable Hyosung Group to focus on securing future growth engines and enhancing global competitiveness."
* This article has been translated by AI.
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