Woori Financial Group will work with the Ministry of Health and Welfare to provide 3 billion won over three years to help young people become self-reliant, including those preparing for independent living and socially isolated youth who face difficulties entering society.

Woori Financial said it signed an MOU on Sept. 22 at the Community Chest of Korea in Jung-gu, central Seoul, with the Ministry of Health and Welfare and the Community Chest of Korea to 추진 the Youth S.T.E.P programme.

Youth S.T.E.P is the first project under “Connection for All,” a public-private cooperation project promoted by the Ministry of Health and Welfare. It is a programme that identifies young people vulnerable in entering society and supports them from job preparation through to settling into society. Woori Financial is taking part as the first partner company.

Woori Financial will provide a total of 3 billion won over the next three years. The funds will be operated through designated donations to the Community Chest of Korea.

The project will proceed in four stages: Screening, Training, Experience and Partnership.

Support will start with initial consultations and setting self-reliance plans. It will include psychological counselling and job adaptation training, links to real work experience and employment opportunities, and follow-up management after employment to help workplace adjustment and maintain jobs.

Woori Financial Group Chairman Yim Jong-yong (임종룡) said, "We will be a strong link so that young people can take their first step into society without giving up on their dreams."