NPS Welcomes Woori Financial Group's Entry into Jeonbuk

Third Financial Group to Enter Jeonbuk After KB and Shinhan

The National Pension Service (NPS) announced on the 26th that it welcomes Woori Financial Group's decision to build financial infrastructure, including asset management, banking, and insurance, to help Jeonbuk Special Self-Governing Province take a leap forward as a financial hub.

This decision by Woori Financial Group is the third following the announcements by KB Financial Group and Shinhan Financial Group to establish a Jeonbuk financial hub in the Jeonbuk Innovation City.

Currently, about 200 employees, including staff from Woori Bank, which is the main transaction bank of the National Pension Service, are working in the Jeonju area. Woori Financial Group stated that it plans to expand the workforce to more than 300 employees by additionally moving its affiliates into the region, including establishing an asset management Jeonju office and hiring marketers.

In addition, through its own venture start-up support program, the group expressed its intention to focus on discovering and nurturing fintech start-ups based in Jeonbuk, and to support job creation and economic independence for people with disabilities in the Jeonbuk region by establishing additional sales outlets for donated goods.

Kim Sungjoo, Chairman of the National Pension Service, said, "Following KB and Shinhan, the fact that Woori Financial Group has also settled in Jeonju is a signal that Jeonbuk is growing into a financial city specialized in asset management," adding, "I hope Woori Financial Group will continue to cooperate with the National Pension Service and grow together in the future."