Woori Financial Group said on April 20 it held an April council meeting on financing for advanced strategic industries on April 17 at its headquarters in Jung-gu, Seoul. The meeting was chaired by Chairman Lim Jong-ryong (임종룡) and attended by key affiliate CEOs including Woori Bank CEO Jin Wan Jeong (정진완), along with holding company executives.

The council was convened to review first-quarter performance and second-quarter tasks for the 80 trillion won Future Shared Growth Project on productive and inclusive finance, which has been 추진 since September last year. Participants agreed to speed up execution of productive finance, taking into account a rise in external uncertainty such as the Middle East war.

In the productive finance segment, tangible support results are emerging, centered on mega projects linked to the National Growth Fund.

Woori Bank expanded financial support across advanced industries by participating in the National Growth Fund led by the Korea Development Bank, including the Sinan Ui offshore wind power project, Samsung Electronics' Pyeongtaek semiconductor facilities and investments in AI semiconductor company Rebellion.

It also signed agreements with large companies and the Korea Technology Finance Corporation and Korea Trade Insurance Corporation to strengthen support for partner small and midsize firms, and is expanding the scope of financial support to the broader national advanced strategic industries.

Woori Investment & Securities deployed 68.6 billion won of venture capital in the first quarter in areas including future mobility, aviation, space and defense, including Nuribaram No. 1. In the second quarter, it plans to deploy an additional 15 billion won or more, centered on KOSDAQ venture funds and semiconductor and bio-related deals.

Woori Asset Management invested 40 billion won in two mobility companies through a group joint fund in the first quarter and formed the 137 billion won Woori Productive Finance Education Infrastructure Fund No. 1. In the second quarter, it will pursue additional investments in secondary batteries, semiconductor materials and mobility, and expand new commitments including Woori Productive Finance Education Infrastructure Fund No. 2.

Woori PE established the Woori Bailey National Growth PEF in the first quarter and deployed 353 billion won. It is also pushing to set up the Woori Regional Shared Growth PEF (tentative name) to support companies outside the Seoul capital area and exporting small and midsize firms.

Woori Finance Research Institute plans to 추진 a Policy Finance Utilization Forum to strengthen productive finance capabilities. As an extension of the existing Advanced Strategic Industries Forum, policy finance institutions and group practitioners will participate to share utilization plans and sales application cases.

In the inclusive finance segment, it will strengthen measures focused on expanding financial access, easing financial costs and supporting restarts.

Woori Bank capped the interest rate ceiling for personal credit loans at an annual 7 percent, providing a total of 620 million won in interest reductions to about 35,000 people as of the first quarter. It also halted collections for holders of small special claims and implemented interest waivers.

In addition, the WooriWON Dream living expenses loan, which provides up to 10 million won for financially vulnerable groups including young people, freelancers and homemakers, was used by 551 people within 10 days of its launch.

Woori Savings Bank deployed 149.1 billion won of inclusive finance funding in the first quarter, an increase of 26.3 billion won from a year earlier. It also posted industry-top-level results in the acceptance rate for rate-cut requests and in the balance of Saitdol loans.

Woori Financial plans to complete construction of its group integrated inclusive finance platform, 36.5˚, in May, offering loan refinancing links and limit inquiries on a single screen.

Lim said, "Productive and inclusive finance is a promise Woori Financial made to the market and customers." He said, "With external shocks large, we must push ahead with speed so we do not miss the golden time for financial support before damage to companies and the public expands."