Woori Bank Offers Up to 300,000 KRW Cashback on Student Loans

As Part of the Autonomous Livelihood Financial Support Program

Woori Bank will provide a cashback of up to 300,000 KRW per person to young borrowers who have faithfully repaid their student loans, regardless of their banking institution.

Woori Bank, Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

On the 20th, Woori Bank announced that it signed a business agreement with the Korea Student Aid Foundation on the 19th to implement the 'Youth Student Loan Cashback' program.

This project is one of the self-initiated livelihood finance support programs solely implemented by Woori Bank. The purpose is to reduce the financial burden on young people who have consistently repaid their student loan principal and interest without delinquency despite difficult conditions such as employment difficulties, high inflation, and high interest rates.

According to this agreement, Woori Bank will provide a cashback of up to 300,000 KRW per person to young borrowers who have faithfully repaid their loans, regardless of income or credit rating. Any young person who holds a student loan from the Korea Student Aid Foundation as of the end of February and has repaid it faithfully without delinquency can apply for the cashback, regardless of whether they have an account with Woori Bank.

Woori Bank will review the cashback applications received from the Korea Student Aid Foundation and announce the final recipients and support scale. The two institutions will provide detailed information on the application method and support scale through the Woori WON Banking application and the foundation’s website in early next month after further detailed consultations.

Jo Byung-kyu, President of Woori Bank, stated, "Thanks to the great support from the foundation, we were able to establish a win-win financial program that can ease the burden on young people who are faithfully pursuing their dreams despite difficult circumstances," adding, "Starting with this program, we will accelerate the promotion of win-win finance that is essential for the youth."