Yangcheon-gu Selects Woori Bank as Next District Treasury Bank

Woori Bank Finally Selected as Operator for First and Second Treasury for Four Years Starting Next Year, Managing General Accounts, Special Accounts, and Funds... Fairness and Transparency Secured through Open Competition, High-Scoring Bank Chosen via Treasury Designation Review Committee Evaluation

[Asia Economy Reporter Park Jong-il] Yangcheon-gu (District Mayor Lee Gi-jae) announced on the afternoon of the 29th that it held the Treasury Designation Deliberation Committee meeting and selected Woori Bank as the preferred negotiation partner for the operation of the next first and second treasury institutions for four years starting next year.

As of the proposal deadline on September 6, three banks?Kookmin Bank, Shinhan Bank, and Woori Bank?submitted proposals for the Yangcheon-gu treasury. Based on the proposals, the Yangcheon-gu Treasury Designation Deliberation Committee individually evaluated each treasury based on financial institution credit rating, financial structure stability, convenience for district residents, and treasury management capability. As a result, Woori Bank, which achieved the highest score, was selected as the preferred designated financial institution.

Woori Bank will finalize the agreement with Yangcheon-gu in October and will operate the general and special accounts and funds of Yangcheon-gu Office from January 1, next year, to December 31, 2026, for four years. This includes ▲ collection of various revenues and payment of expenditures ▲ collection and payment of cash outside revenue and expenditure ▲ handling and safekeeping of securities.

Lee Gi-jae, Mayor of Yangcheon-gu, said, “I hope Woori Bank will become a reliable financial partner to ensure the safety of financial management in Yangcheon-gu through thorough and meticulous treasury management. I also hope they will contribute to the local community along with providing solid financial services.”