Chairman Lim Jongryong: "Revived Thanks to Public Support During IMF Crisis"... Doubles Veterans Social Contribution

Woori Financial Group Signs Business Agreement with the Ministry of Patriots and Veterans Affairs
Chairman Lim Jongryong Emphasizes the "Public Nature" of Banking
All Group Subsidiaries to Support Marketing for the Expansion of Veterans Culture
Promoting the Ministry’s Donation Platform, "Moduui Bohun Dream"

Kwon Oeul, Minister of Patriots and Veterans Affairs, and Lim Jongryong, Chairman of Woori Financial Group, are taking a commemorative photo after signing a business agreement to support independence activists and promote veterans culture on the 80th anniversary of Liberation Day. Woori Bank

Under the direction of Lim Jongryong, Chairman of Woori Financial Group, all subsidiaries of Woori Financial Group will double their support for housing welfare for independence activists and vulnerable groups this year. This decision stems from the belief that this area best reflects the identity of the group as a "national bank," established in 1899.

According to Woori Financial Group on August 11, Chairman Lim has instructed all subsidiaries to utilize their personnel, infrastructure, and marketing capabilities to promote the Ministry of Patriots and Veterans Affairs' donation platform, "Moduui Bohun Dream." Currently, Woori Financial Group is promoting "Moduui Bohun Dream" through its headquarters' electronic display boards, customer TVs, and YouTube channels.

"Moduui Bohun Dream" is an online donation platform operated by the Ministry of Patriots and Veterans Affairs starting this year. It was created to foster a culture of giving as part of a government initiative to enhance respect for national patriots and expand veterans culture, marking the 80th anniversary of Liberation Day this year.

The "Woori 80th Liberation Anniversary" special savings account, recently announced by Woori Bank in a press release, was also launched as part of this initiative. When customers sign up, 815 KRW per account is donated. What sets this apart is that it is not simply a one-off campaign, but a systematic collaboration with the Ministry's "Moduui Bohun Dream" platform.

The reason Chairman Lim emphasizes campaigns in cooperation with the Ministry of Patriots and Veterans Affairs is rooted in Woori Financial Group's identity. Woori Financial Group traces its origins to Daehan Cheonil Bank, established in 1899 with funds granted by Emperor Gojong. At the time, the guiding principle was "Facilitating currency circulation is the path to revitalizing commerce and industry."

The earliest company articles of incorporation petition in Korea, dated March 6, 1899, is the initial articles of incorporation petition for the establishment of Daehan Cheonil Bank and the approval document from the Minister of Taxation. Daehan Cheonil Bank is the predecessor of Woori Bank. Photo by Woori Bank

For this reason, even during the Korean War in 1950, the bank established a temporary office in Busan to support operations and maintain the national financial system. Today, it remains the main creditor bank for 11 major conglomerates, the largest number among domestic banks. Within the banking sector, Woori Bank is traditionally well known for its strength in corporate finance.

In particular, Woori Bank originated as Hanvit Bank, formed in 1999 through an equal merger of Commercial Bank and Hanil Bank during the IMF crisis. In 2002, it was renamed "Woori Bank," a name it has retained to this day. This background explains why Chairman Lim requested cooperation from all subsidiaries regarding the marketing of the Ministry's donation platform.

In fact, Chairman Lim is known to frequently say, "Woori Financial Group was revived thanks to the help of the people during the IMF crisis, so we must have a sense of duty to contribute to the nation and its people, and demonstrate sincerity in our social contribution projects." In line with this, he is said to place particular importance on the "public nature" of the bank.

A Woori Financial Group representative emphasized, "We are expanding 'social patriotism' within the scope that the private sector can practice," and added, "Through our 17 subsidiaries and affiliated welfare foundations, we have consistently carried out more than 100 public interest projects."