Woori Bank said on Tuesday it signed a memorandum of understanding with the UNESCO Korean National Commission on Monday to cooperate on joint branding and social contribution projects.

Under the agreement, the two organisations will cooperate in various areas, including promotions related to UNESCO-designated commemorative figures in South Korea and social contribution partnership projects, to build a successful public-private cooperation model.

It is a meaningful year as UNESCO's General Conference has officially designated the 150th birth anniversary of Baekbeom Kim Gu as a "UNESCO anniversary". The two sides will work together to spread UNESCO values by extending through finance the cultural message and the meaning of sharing contained in "Baekbeomilji" and "My Wish."

To mark the agreement, Woori Bank will launch special products and plans to donate 1,000 won to culture-content related projects when customers subscribe, so they can take part in meaningful sharing.

"My Wish Woori Savings" allows monthly deposits of up to 500,000 won. It is a high-interest product that applies maximum interest rates of 8.29 percent for 6 months and 7.0 percent for 12 months if preferential conditions are met, and it will be sold with a limit of 200,000 accounts.

"My Wish Woori Time Deposit" is a 12-month product that customers can join with amounts from 1,000,000 won to 100,000,000 won. It applies a maximum annual interest rate of 3.1 percent if preferential conditions are met, and it will be sold with a cap of 1.0 trillion won. Both products offer high-interest benefits through simple preferential conditions such as leaving a "My Wish" message on the bulletin board of the WooriWON Banking savings management and subscription screen.

Woori Bank CEO Jin-wan Jeong said it was meaningful that Woori Bank, which has protected the roots of national capital, would share the value of heritage with the UNESCO Korean National Commission and help publicise South Korea's valuable cultural heritage and human assets. He said Woori Bank would continue to expand meaningful cooperative tasks with customers based on its heritage assets such as Woori1899 and its founding petition.