Venture Business Association and Woori Bank Join Hands to Support Venture Companies

Establishing Financial Support Partnerships and Supporting Financial Platforms
Revitalizing Venture Ecosystems in Association Hub Regions

The Korea Venture Business Association announced on the 26th that it has signed a business agreement with Woori Bank to strengthen support for venture companies.

Seong Sang-yeop, Chairman of the Korea Venture Business Association (left), and Jo Byung-kyu, President of Woori Bank, are posing for a commemorative photo after signing a business agreement to strengthen support for venture companies.
[Photo by Korea Venture Business Association]

This agreement was prepared to help the growth of venture companies amid the ongoing financial crisis faced by venture companies due to the continued high interest rates. Both organizations promised to discover outstanding venture companies, expand investment cooperation, and strengthen support for financial infrastructure.

The Korea Venture Business Association plans to recommend outstanding venture companies to Woori Bank so that they can receive the lowest level of preferential interest rates and investment support. Woori Bank will support venture companies by allowing them to use the digital supply chain finance platform 'OneBiz Plaza' free of charge. Additionally, they will cooperate in establishing a monitoring system for safe transactions between venture companies.

Furthermore, to revitalize the venture ecosystem in key association areas such as the Second Pangyo, where the Korea Venture Business Association is relocating, they plan to collaborate with Woori Bank's financial and non-financial support organizations to hold joint programs.

Sung Sang-yeop, Chairman of the Korea Venture Business Association, said, "This agreement will be an important opportunity to establish a foundation for venture companies to grow despite the ongoing financial crisis," adding, "We will do our best to ensure that the venture ecosystem becomes active and continues to grow through cooperation with Woori Bank."