Woori Bank announced on the 7th that it signed an agreement titled 'Jeollabuk-do Special Self-Governing Province Productive Financial Support for Regional Industrial Development Agreement (MOU)' with Jeollabuk-do Special Self-Governing Province, Gochang County, the Central Federation of Credit Unions, Dongchon Wind Power, and others at the Jeollabuk-do Provincial Office on the 6th.
The purpose of this agreement is to support the construction of offshore wind power infrastructure in Gochang with a total project cost of 400 billion won and to revitalize the local economy. The Gochang offshore wind power development project involves constructing and operating an offshore wind power plant with a capacity of 76.2 MW on shared waters in Gochang County, Jeollabuk-do. The generated electricity is expected to be supplied directly or indirectly to advanced strategic industries such as Jeollabuk-do's Physical AI Valley, robot manufacturing component cluster, and mobility cluster, thereby contributing to the revitalization of the local real economy.
Woori Bank will take on the largest share among participating financial institutional investors by combining loans with investments from its self-raised 'Our Regional Development Infrastructure Fund,' playing a catalytic role in mutual prosperity and productive finance. Considering the characteristics of infrastructure projects, Woori Bank plans to provide financial support throughout all stages of the project, from initial permitting and licensing, business feasibility review, PF procurement, to construction commencement.
Woori Bank explained that this agreement marks the starting point for medium- to long-term cooperation aimed at fostering the entire offshore wind power industry ecosystem in Jeollabuk-do. In the future, the Jeollabuk-do Southwestern Offshore Wind Power Expansion Zone is scheduled to be gradually expanded to 200 MW, 800 MW, and 1 GW capacities. Woori Bank remains committed to leading productive financial support for the regional offshore wind power industry.
Wang Je-yeon, Deputy Head of Woori Bank's Infrastructure Finance Division, stated, "Building on the 'Jeollabuk-do Innovation City Our WON Financial Town' launched last July, we have established a strong partnership with Jeollabuk-do based on our competitiveness in renewable energy financial intermediation. Going forward, we will create exemplary cases of productive mutual prosperity finance."
in FINANCE
