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Finance

Woori Financial supplies 25.3 trillion won in productive finance, hits 116 percent of annual target

Woori Financial Group said it supplied 25.3 trillion won in productive finance through August, reaching 116.3 percent of its annual target. It plans to expand funding and investment focused on regional areas and small and mid-sized enterprises. The group reviewed progress at a Sept. 16 meeting chaired by Chairman Yim Jong-yong. It also reported 2.2 trillion won in inclusive finance through August and plans to expand debt write-offs and apply AI transformation to operations.

Finance

Woori Bank backs micro business owners with Seomin Finance agency in \'Recognized Store\' project

Woori Bank will work with the Korea Inclusive Finance Agency to support 18 micro business owners with promotion, consulting and mentoring. The bank said it held the first plaque ceremony for the “Recognized Store” project on Sept. 7 at Yeonhwa Table in Seoul’s Mapo district, together with the agency and the Good Influence Store association. Selected owners will receive official plaques and stickers, marketing support and publicity via social media and the media.

Finance

Financial sector \'digital risks\' rise, putting IT controls to the test

As financial companies expand use of AI, South Korean regulators are sharpening oversight of security and internal controls. The Financial Services Commission plans to exempt sanctions for minor system disruptions during AI security tests or emergency patches if conditions are met, while requiring swift recovery and consumer protection. The Financial Supervisory Service will intensively inspect IT basic controls in the second half and urged banks to build AI internal-control systems. A Woori Bank data leak and broader market and industry moves have also highlighted digital risks.