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Finance

Woori Financial supplies 34.7 trillion won in productive, inclusive finance over a year, expands SME and regional share

Woori Financial Group supplied 34.7 trillion won in productive and inclusive finance over a year under its Future Shared Growth Project launched in September last year. It expanded funding to small and medium-sized firms and regional businesses, while increasing support for vulnerable groups through measures such as long-overdue debt write-offs. The group said it reviewed performance and next year’s plans at a financial council meeting chaired by Chairman Lim Jong-ryong.

Finance

Tech Insight: The fintech we knew is dead

Fintech that once shook up banking with mobile and cloud has run its course as an investment theme, fintech expert and influencer Simon Taylor (사이먼 테일러) wrote on X. He said features that once set fintech firms apart are now standard across financial companies, while fintech investment increasingly concentrates in AI. Taylor said finance is being reshaped across decision-making, record-keeping and distribution as AI models, tokens and AI agents take larger roles.

Finance

Banks vary in how they use SCB to assess small business loans

South Korean banks have begun piloting Small Business-specialised Credit Evaluation (SCB), which adds business growth potential such as sales, industry and commercial area to traditional credit assessment. Banks are using SCB in different ways, including overriding internal grades to improve approval odds and offering higher loan limits or broader support. A high SCB grade does not guarantee approval if other risk factors exist. Regulators allow use for approvals, limits and rates, while standards vary by bank.