6.1 Trillion KRW in New Funds, 9 Trillion KRW in Loan Extensions
Focused Support for Business Stabilization, Wage Arrears Resolution, and Accounts Receivable Loans
Woori Bank announced on the 10th that it will provide special funds totaling 15.1 trillion KRW until February 14 to support small and medium-sized enterprises (SMEs) facing difficulties such as lack of funds during the Lunar New Year holiday.
Woori Bank plans to assist small business owners and SMEs struggling with management difficulties amid the recent challenging economic conditions of high exchange rates and high interest rates through financial support including ▲new funds of 6.1 trillion KRW ▲loan maturity extensions of 9 trillion KRW ▲interest rate discounts up to 1.5 percentage points.
In particular, the bank will focus on supporting loans related to business stabilization funds for self-employed and small business owners, funds to resolve unpaid wages for employees, and accounts receivable (B2B, buyer financing loans, etc.).
A Woori Bank official stated, “We hope this special fund support for the Lunar New Year will provide practical help to small business owners and SMEs who have been struggling since the beginning of the year,” adding, “Considering the economic difficulties, we will become a trusted bank by customers through various win-win financial measures and active support.”
Meanwhile, Woori Bank is currently providing liquidity support until the end of March for small business owners and SMEs facing management difficulties, including the ‘Special Management Stabilization Support’ for SMEs affected by the recent sharp rise in exchange rates.
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