On June 21, Woori Financial announced that it had decided to pursue these plans during the 'June Advanced Strategic Industry Finance Council' chaired by Im Jong-ryong.
The Future Co-Growth Project focuses on providing funding for advanced strategic industries, export companies, and local technology firms through productive finance, while also supporting financially vulnerable groups such as low-credit individuals and small businesses through inclusive finance. Last September, Woori Financial announced a total project size of 80 trillion won, which included 73 trillion won for productive finance and 7 trillion won for inclusive finance.
Of the additional 9.4 trillion won allocated for productive finance, 5.7 trillion won will be provided this year and 3.7 trillion won next year. This increase aims to strengthen financial support for advanced strategic industries and export companies.
For inclusive finance, a total of 35 trillion won will be supported this year, including the newly added 6 trillion won. This will include 11 trillion won for mid-interest loans across banks, credit cards, capital, and savings banks; 6 trillion won for small business guarantees and credit loans; 3 trillion won for refinancing and emergency living expense loans; 2.8 trillion won for the disposal of long-term delinquent debts; and 120 billion won for microfinance.
Im Jong-ryong stated, "The increase in our productive and inclusive finance goals is a commitment to the market and our customers that Woori Financial will take on greater responsibility in supporting the real economy and vulnerable groups." He urged the active implementation of long-term delinquent debt disposal and mid-interest loan provision, which are crucial for financially vulnerable individuals.
* This article has been translated by AI.
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