Over the past year since launching its "Future Co-Growth Project," the Woori Financial Group has supplied 35 trillion won in productive and inclusive finance funds. This amount represents 38.5% of the total five-year target of 90 trillion won.
The Woori Financial Group announced on the 21st that it held the "October Advanced Strategic Industry Finance Council" on the 20th at its headquarters in Jung-gu, Seoul, chaired by Lim Jong-ryong (Chairman) and attended by the heads of major affiliated companies.
After announcing in September last year that it would supply 80 trillion won over five years, the Woori Financial Group raised its target to 90 trillion won in June this year. The funds supplied in the first year of project execution totaled 34.7 trillion won, comprising 33.3 trillion won in productive finance and 1.4 trillion won in inclusive finance.
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. Of the 26.6 trillion won supplied by Woori Bank, more than half, or 13.4 trillion won, was provided to SMEs (small and medium-sized enterprises), of which 5.1 trillion won went to SMEs (small and medium-sized enterprises) located in regional areas.
In the investment sector, 1.9 trillion won was executed during the same period. Through the National Growth Fund, more than 500 billion won was invested this year alone in Shinan Woori offshore wind power, Samsung Electronics' Pyeongtaek semiconductor facility, and Rebellion, among others, and additional commitments of approximately 600 billion won were completed. The Group Joint Fund (Woori Asset Management) invested 177.7 billion won in secondary battery and mobility companies.
Woori Investment & Securities supplied 466.1 billion won in venture capital, including 100 billion won in private placement bond underwriting. This month, a model was also established for affiliated companies to jointly invest in non-metropolitan AI centers.
In inclusive finance, 2.8 trillion won was executed by September out of the supply target of 3.5 trillion won. Woori Bank provided 652 billion won through its New Hope Seed loans and reduced interest payments by 3.7 billion won for 90,000 customers through a personal credit loan interest rate cap of 7% per annum, which has been in effect since January. The "Woori WON Dream Living Expense Loan" supplied 63.7 billion won within six months of its launch, and the sales limit will be increased from 100 billion won to 200 billion won starting in November.
For low-income finance loans, Woori Financial Savings Bank supplied 435.1 billion won and the Woori Miso Finance Foundation supplied 12.6 billion won, respectively. The Miso Finance Foundation expanded its branches to 12 locations nationwide, while Woori Bank and Woori Card wrote off approximately 280 billion won in long-term delinquent debts to support the recovery of low-income individuals.
At the council on this day, management directions for next year were also discussed. For productive finance, it was decided to manage the overall supply structure from multiple perspectives, including not only expanding the scale of supply but also loan balances by industry, the proportion of small and regional companies, and reliance on collateral and guarantees. For inclusive finance, the policy is to support the substantive recovery of vulnerable groups through measures such as writing off delinquent debts and linking with employment and welfare programs.
Lim Jong-ryong (Chairman) stated, "If the past year was a time when we made every effort to supply funds in a timely manner where they were needed, I ask that you formulate next year's plan so that we can drive structural changes in supply, such as increasing the proportion of SMEs (small and medium-sized enterprises) and regional areas," adding, "Let us continue to increase the supply of inclusive finance that customers can feel, with sincerity."
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