Woori Bank Joins the 'Good Landlord Movement'

[Asia Economy Reporter Kim Hyo-jin] Woori Bank announced on the 5th that it will join the 'Good Landlord Movement' to support small and medium-sized enterprises (SMEs) and small business owners affected by the novel coronavirus disease (COVID-19).

Starting this month, Woori Bank will reduce 30% of the monthly rent up to a limit of 1 million KRW per month for five months for SMEs and small business owners operating in bank-owned buildings.

In addition, landlords participating in the 'Good Landlord Movement' will receive preferential treatment on loan interest rates and fees.

Son Tae-seung, Chairman of Woori Financial Group and Woori Bank, stated at a breakfast meeting with Financial Services Commission Chairman Eun Sung-soo and chairmen of the five major financial holding companies on the 2nd, "We will do our best to provide support without blind spots, including joining the Good Landlord Movement and supporting management stabilization funds, to overcome COVID-19."