Woori Bank said on Jan. 22 it signed a financial support agreement with Hanwha Group at the conglomerate's headquarters to build an ecosystem for advanced strategic industries.

Executives from both sides attended, including Woori Bank CEO Jung Jin-wan (정진완) and Hanwha CFO Shin Yong-in (신용인). The two sides agreed to pursue financial cooperation centred on advanced strategic industries such as defence and aerospace, including facility investment, import-export finance and financing for overseas business projects.

A key feature of the agreement is that it set lending support limits in advance in line with Hanwha Group's investment schedule, improving the speed and predictability of fund execution.

The deal is expected to deliver financial funds to productive areas in a timely manner and implement productive finance on the ground by leading to tangible high value-added creation. Woori Bank also plans to provide specialised wealth management consulting services for Hanwha Group employees as an extension of the cooperation.

A Woori Bank official said, "Designing a financial support structure preemptively in line with a company's mid- to long-term investment plan is the core of productive finance." The official added, "We will continue the role of finance in supporting real-economy growth centred on advanced strategic industries."