Woori Bank Launches Initiative to Discover Innovative Growth Companies... Up to 1 Billion KRW Investment for Selected Firms

Recruitment of Investment Target Companies for Innovation Growth Support from the 27th to August 7th

[Asia Economy Reporter Kim Hyo-jin] Woori Bank announced on the 24th that it will hold the "6th Public Offering for Investment Target Companies to Support Innovative Growth of Small and Medium Enterprises" from the 27th to August 7.

Since June 2018, Woori Bank has established a system to directly invest in small and medium enterprises with high growth potential in response to the government's "economic growth policy through innovative growth" and to secure growth engines suitable for the 4th Industrial Revolution era. Through a total of five public offerings up to the first half of this year, the bank has invested in 45 companies, approximately 43 billion KRW, actively supporting the innovative growth of small and medium enterprises.

The recruitment targets are small and medium corporations with innovation and growth potential, such as venture companies and startups, and applications are possible even without financial transactions with Woori Bank. Detailed information such as submission documents and application methods can be confirmed through Woori Bank's internet banking and mobile banking.

Woori Bank plans to select about 10 investment target companies in the second half of this year through internal screening stages such as technology and business evaluations, and invest up to 1 billion KRW per company by the end of the year through methods such as Redeemable Convertible Preferred Stocks (RCPS). Additionally, the bank will support selected companies with ▲consulting by professional consultants ▲follow-up investment attraction ▲business model partnerships.

A Woori Bank official said, "Woori Bank is preparing various projects to support the startup and growth of small and medium enterprises to fulfill its social responsibility," and added, "We plan to support innovative companies with excellent technology to grow into core companies of our economy through continuous direct investment."