Woori Financial Group has been selected as an operating institution for the Ministry of Employment and Labor-led K-New Deal Academy. Woori Financial plans to provide training in digital jobs such as AI and big data for unemployed young people and to support scholarships for youths from vulnerable groups.

Woori Financial said on July 9 it has been finally selected as an operator of the K-New Deal Academy and will recruit trainees for the unemployed youth IT training programme, the WooriWON Youth IT Academy, until Aug. 2.

Eight group affiliates will participate in the academy: Woori Financial Group, Woori Bank, Woori Investment & Securities, Tongyang Life Insurance, ABL Life Insurance, Woori Card, Woori FIS and the Woori Financial Future Foundation.

The recruitment is open to unemployed youths aged 15 to 34. Woori Financial will select 60 trainees and provide a total of 600 hours of training over about 4 months. The curriculum consists of 416 hours to develop digital job capabilities and 184 hours to build an understanding of the overall financial industry.

An AI-based practical project will also be carried out. Woori Financial plans to newly introduce an "AX Hackathon" and a "Financial AX Insights Programme" so trainees can gain experience using AI technology to solve financial problems. Support for youths from vulnerable groups will also be provided in parallel.

Choi Seong-seok (최성석), a deputy head at the Woori Financial Future Foundation, said, "We will do our best, in connection with government projects, to support the self-reliance and growth of young people who need help."