Woori Bank Launches Public Offering for Investment Target Companies... "Investment Within 1 Billion KRW"

[Asia Economy Reporter Song Seung-seop] Woori Bank announced on the 2nd that it is holding a public offering for the '9th Investment Target Companies for Supporting the Growth of Small and Medium Enterprises.'

The recruitment targets are small and medium-sized corporations such as startups with innovative technologies and high growth potential. Support is available even if there is no financial transaction history with Woori Bank. The application period is from the next day until the 18th.

Woori Bank will review the technological and business feasibility of the applying companies and select about 10 investment target companies by June. Selected companies will receive funds up to 1 billion KRW through methods such as Redeemable Convertible Preferred Stocks (RCPS).

A Woori Bank official stated, "We are planning various projects to support the founding and growth of innovative companies," and added, "We hope that small and medium-sized enterprises with excellent technologies will take interest in the public offering and seize the opportunity."

Meanwhile, since June 2018, Woori Bank has established a system to directly invest in small and medium-sized enterprises with high growth potential to secure growth engines. Up to last year, a total of 78 companies have received about 73 billion KRW in investments.