Woori Financial Group announced on the 23rd that it has donated 1 billion won to the Korean Red Cross through the Community Chest of Korea to support recovery efforts from the forest fire damage in Sancheong, Gyeongsangnam-do, Uiseong, Gyeongsangbuk-do, and Ulju, Ulsan.
Woori Financial has decided to dispatch 1,000 disaster relief kits and relief meal trucks to the site in collaboration with the Korean Red Cross to support affected residents and firefighting personnel.
Woori Financial will also provide financial support, including special funds for business stability, for the rapid recovery and revitalization of residents, small businesses, and medium-sized enterprises in the affected areas.
First, Woori Bank will provide financial support to local residents affected by the forest fire, including emergency living stabilization loans of up to 20 million won per person, a maximum interest rate reduction of 1 percentage point, payment of promised interest for early withdrawal of savings, and exemption from remittance fees at branches.
Additionally, for small business owners and medium-sized enterprises struggling due to this forest fire, loans for operating or facility funds will be supported up to 500 million won with a maximum interest rate reduction of 1.5 percentage points within a total limit of 200 billion won. Existing loans can be extended for up to one year, and support will be provided to defer the payment due date for partitioning repayment.
Woori Card will also defer card payment deadlines for affected customers for up to 6 months. For any payment delays that occurred after the damage, it will waive any late fees and remove late payment records. The company will also offer a 30% preferential rate on basic interest for card loans, credit loans, and cash services.
Woori Financial Capital will defer the principal payments of loans for affected customers for up to 6 months and will waive late fees for any arrears incurred after the damage.
Woori Savings Bank will defer the loan principal and interest payments for affected customers for 3 months and extend the maturity for up to 6 months.
Yim Jong-ryong, chairman of Woori Financial, said, 'I feel sorry for the many victims caused by this fire,' and noted, 'Woori Financial will seek additional support measures and do its utmost in recovery support for residents affected by this major forest fire.'