Woori Bank Launches 'Woori Jungjingong Together Loan' SME Loan Product

Supporting SME Innovative Growth with Collaborative Loan Products between Private Finance and Policy Funds
Woori Bank Launches Exclusively... Sales Start from the 21st of This Month

[Asia Economy Reporter Kim Hyo-jin] Woori Bank announced on the 20th that it will launch 'Woori Jungjingong Together Loan,' a financial support loan product for the innovative growth of small and medium-sized enterprises (SMEs), in collaboration with the Small and Medium Business Corporation (SBC).

'Woori Jungjingong Together Loan,' which Woori Bank will exclusively launch on the 21st of this month, is a collaborative loan product that supports SMEs by providing policy funds at lower interest rates through cooperation with SBC and expanding loan limits with bank funds to offer broader financial support.

Applications are possible through recommendations for collaborative loans from SBC. In line with the Korean New Deal policy, companies creating jobs can receive a preferential loan interest rate reduction of 1.3 to 2.0 percentage points from the basic calculated interest rate, depending on factors such as automatic transfer records of the four major social insurances and the number of regular employees. For facility funds acquired by securing office real estate such as knowledge industry centers and smart factories, support of up to 85% of the required funds is available.

A Woori Bank official stated, "Woori Jungjingong Together Loan is an innovative financial leading product supporting innovative growth SMEs in collaboration with SBC, and it will be of great help to SMEs going through difficult times due to COVID-19 and other challenges."