Tighter household loan rules are putting pressure on the revenue models of small and mid-sized fintech firms that grew on loan comparison and recommendation services. As lenders’ capacity to supply loans shrinks, brokerage income via platforms could also contract. Woori Bank has halted new credit loans and refinancing applications via major loan comparison platforms. Fintech firms are expanding into data and AI, licences and corporate services, with moves such as Finda’s savings bank acquisition push, BankSalad’s health and insurance data services, and PFCT’s overseas B2B risk solutions.

Woori Financial Group will increase its support for productive and inclusive finance by 10 trillion won, expanding funding for advanced strategic industries, exporters and other parts of the real economy. It will also strengthen support for vulnerable groups by writing off long-overdue debts and supplying mid-interest loans. The group plans to raise the target of its Future Shared Growth Project to 90 trillion won and provide 3.5 trillion won in inclusive finance within the year.