Woori Bank and Credit Guarantee Fund Usher in a New Era of Productive Finance for AI

Joining Hands with the National IT Industry Promotion Agency

From the left, Park Yoonkyu, President of the National IT Industry Promotion Agency, Jung Jinwan, President of Woori Bank, and Choi Wonmok, Chairman of the Credit Guarantee Fund, are taking a commemorative photo together. Photo by Woori Bank

Woori Bank announced on October 17 that it has signed a "Financial Support Agreement for the Promotion of the Artificial Intelligence (AI) Industry Ecosystem" in partnership with the National IT Industry Promotion Agency (NIPA) and the Credit Guarantee Fund.

The signing ceremony was held at Woori Bank’s headquarters, attended by key representatives from the three organizations, including Jung Jinwan, President of Woori Bank, Park Yoonkyu, President of the National IT Industry Promotion Agency, and Choi Wonmok, Chairman of the Credit Guarantee Fund.

Under this agreement, Woori Bank will create a special fund in collaboration with the Credit Guarantee Fund to provide a total of 230 billion won in productive financing to promising AI companies. In particular, Woori Bank plans to actively promote tailored, on-site financial services such as funding, asset management, and consulting through its dedicated corporate finance division, the BIZ Prime Center.

To this end, the National IT Industry Promotion Agency will introduce AI companies with outstanding ICT capabilities to Woori Bank and share information on government support programs. The Credit Guarantee Fund will also enhance financial accessibility for AI companies by increasing guarantee ratios and reducing guarantee fees.

Woori Financial Group has already launched loan products in line with its plan to support productive and inclusive finance, and is actively supporting the development of high-tech and core industries, even in regions outside the Seoul metropolitan area, through productive financial support.

Jung Jinwan, President of Woori Bank, stated, "We have promoted this multilateral agreement in line with the government's policy to support advanced strategic industries and Woori Financial Group's strategy to shift toward productive finance," adding, "We hope this cooperation will provide practical support to small and medium-sized enterprises and small business owners who are facing difficulties in securing liquidity."