Launch of 'Uri Sajangnim Hwaljjak Pin Jeokgeum' Savings Account for Small Business Owners
Woori Bank is strengthening win-win finance for small merchants in traditional markets by forming partnerships with them.
Woori Financial Group announced on the 5th that Woori Bank has signed the ‘Janggeumi No. 1 Partnership’ with Gwangjang Market. The event held at Woori Bank Jongno 4-ga Financial Center in Jongno-gu, Seoul, was attended by Lee Young, Minister of SMEs and Startups, Lee Bok-hyun, Governor of the Financial Supervisory Service, Lim Jong-ryong, Chairman of Woori Financial Group, and Kim Young-jae, Chairman of the Gwangjang Market Merchants’ Association.
‘Janggeumi’ is a combination of ‘Jang (場),’ meaning market, and ‘Geum (金),’ meaning financial institution, symbolizing healing difficulties through finance. Through the ‘one market, one financial institution’ partnership, the plan is to establish a close cooperative relationship between traditional market small merchants and banks to prevent financial fraud and support win-win finance.
On the same day, Woori Bank also launched ‘Woori Sajangnim Hwaljjak Pin Jeokgeum’ (Woori Boss’s Blooming Savings), a win-win finance product to help small merchants secure self-reliance funds. When preferential conditions such as loan repayment with the maturity funds are met, an additional preferential interest rate is applied, offering up to 10% annual interest. Individual business owners with a business registration certificate can subscribe at Woori Bank branches or through the Woori Bank corporate banking application ‘WooriWON Corporate.’
A Woori Bank official emphasized, “‘Woori Sajangnim Hwaljjak Pin Jeokgeum’ was launched to provide practical support to small merchants struggling amid economic uncertainty.”
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