Woori Financial Group has supplied 34.7 trillion won through its 'Future Shared Growth Project' over the past year, achieving 38.5% of its five-year goal of 90 trillion won. The group plans to increase financial support for small and medium-sized enterprises (SMEs) and regional businesses next year.
On October 20, Woori Financial held the 'October Advanced Strategic Industry Finance Council' to discuss the project's achievements and plans for the upcoming year, the company announced on October 21.
Since its launch in September 2022, the project has provided 33.3 trillion won in productive finance and 14 trillion won in inclusive finance. Quarterly supply amounts have increased from 4.5 trillion won in the fourth quarter of last year to 11.5 trillion won in the third quarter of this year.
In the productive finance lending sector, 27.2 trillion won was supplied from January to September this year, exceeding the annual target of 18.4 trillion won. During this period, Woori Bank supported approximately half of the 26.6 trillion won supplied, amounting to 13.4 trillion won for SMEs, including 5.1 trillion won for SMEs located in regional areas.
In the investment sector, 1.9 trillion won was disbursed. Through the National Growth Fund, over 500 billion won was invested in Samsung Electronics' Pyeongtaek semiconductor facility and Rebellion, while Woori Investment & Securities provided 466.1 billion won in venture capital.
The inclusive finance supply amount reached 2.8 trillion won by September. Woori Bank's New Hope Loan supply amounted to 652 billion won, the largest in the banking sector. Woori Bank and Woori Card also supported credit recovery for over 12,000 individuals by writing off approximately 280 billion won in long-term delinquent debts.
Starting next year, Woori Financial plans to comprehensively manage the proportion of support for SMEs and regional businesses, as well as reliance on collateral and guarantees.
Im Jong-ryong, Chairman of Woori Financial, stated, "Please establish plans for next year that can lead to structural changes in the supply, such as the proportion of support for SMEs and regions."
* This article has been translated by AI.
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