Woori Financial Group Provides Emergency COVID-19 Donation of $100,000 to India

[Asia Economy Reporter Jin-ho Kim] Woori Financial Group announced on the 12th that it will provide an emergency support of $100,000 (approximately 111 million KRW) to India for international cooperation to end COVID-19 and to fulfill its social responsibility as a global financial group.

India has recently suffered greatly from the massive spread of COVID-19. As of the end of last month, the daily confirmed cases were about 380,000, cumulative confirmed cases about 18.75 million, and deaths approximately 200,000.

In particular, India’s national medical system has collapsed to the extent that it is difficult to handle the bodies of the deceased, and with ongoing city lockdowns, vulnerable groups such as daily wage workers are facing the worst situation where maintaining their livelihoods is difficult.

Accordingly, Woori Financial Group decided to provide an emergency donation of $100,000 to the local Indian nonprofit organization 'United Way India' in cooperation with the domestic nonprofit organization Community Chest of Korea to support the restoration of the medical system in India and provide rapid aid to vulnerable groups.

The donation will be used to support the local community through the purchase of medical equipment such as ventilators and oxygen respirators, construction of temporary plank hospitals and beds, restoration of the medical system, and provision of daily necessities and food for vulnerable groups.

Son Tae-seung, Chairman of Woori Financial Group, said, “We decided on this emergency support to fulfill our responsibility as a global financial group by considering India’s massive COVID-19 outbreak not simply as a crisis of one country but as a crisis shared by humanity.” He added, “We will continue to promptly cooperate on international issues to practice humanity and strengthen global ESG management.”

Meanwhile, Woori Financial Group currently operates three Woori Bank branches including the India regional headquarters in India. To ensure employee safety, shortened business hours and remote work for some staff are being implemented.