Woori Bank Signs Business Agreement with KODIT for Korean New Deal and ESG Financial Support

[Asia Economy Reporter Jin-ho Kim] Woori Bank announced on the 11th that it has signed a business agreement with the Korea Credit Guarantee Fund to strengthen financial support for Korean New Deal companies and ESG management companies.

This agreement was established to provide preferential financial support to Korean New Deal companies and ESG management companies and to discover and support job-creating companies through mutual cooperation between Woori Bank and the Korea Credit Guarantee Fund.

Woori Bank will contribute special endowment funds and guarantee fee support funds to the Korea Credit Guarantee Fund and, based on this, plans to support loans worth approximately 430 billion KRW through preferential policies such as ▲increasing the guarantee ratio (85%→100%) ▲supporting guarantee fees (0.5 percentage points, up to 2 years) ▲reducing Korea Credit Guarantee Fund guarantee fees (0.2 percentage points, up to 3 years).

The target companies for support include ▲New Deal companies ▲companies engaged in new growth engine industries ▲job-creating companies ▲startups ▲exporting SMEs ▲overseas expansion companies. Loan applications will be accepted from the 14th at Woori Bank branches nationwide.

A Woori Bank official said, “We will discover and support New Deal leading companies and job-creating companies,” adding, “Through continuous ESG and Korean New Deal financial support, we will mitigate environmental and social risks and contribute to the sustainable development of society.”