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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

Shinhan Bank cuts mid-rate loan interest for mid-low credit borrowers by 0.3 percentage point, keeps 6.9 percent cap

Shinhan Bank cut interest rates on private mid-rate loans for mid-to-low credit borrowers by an additional 0.3 percentage point. The bank is keeping the existing cap of 6.9 percent a year, meaning the benefit may vary by customer depending on each borrower’s calculated rate. The change applies to customers in the bottom 50 percent of NICE or KCB credit scores and to certain unsecured loan products, including non-face-to-face loans.

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.