Woori Bank said on Thursday it has launched “Woori Advanced Leading Company Loan” to actively support financial authorities’ “productive finance” policy shift and to underpin real-economy growth.

It is a key product included in Woori Financial Group’s plan to supply 56 trillion won in corporate loans as part of its “Future Companion Growth Project” aimed at shifting to productive finance.

In particular, it focuses on expanding financial support for companies operating in advanced strategic industries and for companies with growth potential and technological capability, centred on productive finance.

The loan product will offer additional preferential interest rates to high-potential companies, including those in advanced strategic industries, venture companies and companies producing items in innovative growth categories. Woori Bank plans to accelerate the pace of the productive finance shift and further strengthen its competitiveness as a corporate finance lender that leads industrial growth.

A Woori Bank official said the product expands Woori Financial Group’s accumulated strengths in corporate finance into future competitiveness in step with the shift to productive finance. The official said the bank will continue to work to expand productive finance so that practical financial support for advanced strategic industries and growth companies can underpin corporate growth and lead to vitality in the national economy and growth for the public.