Woori Bank said on the 5th that it signed a business agreement on the 4th with Seoul Housing and Urban Development Corporation (SH) to provide financial support for SH partner companies. SH will place 20 billion won in deposits as a time deposit at Woori Bank, and Woori Bank will use the interest income from this deposit to offer a total of 40 billion won in low-interest loans to SH partner companies.
Partner companies that maintain a contract amount of at least 10 million won with SH can apply for loans of up to 500 million won per company. They can receive a 1.48 percentage-point reduction from the calculated lending rate. Applications for the loans will be accepted at Woori Bank branches nationwide starting Dec. 18.
Woori Bank expects that this support will lower corporations' financing costs and improve capital management efficiency, leading to liquidity stability in the construction industry, revitalization of local economies, and enhanced financial soundness for small and midsize enterprises.
This agreement was prepared with the aim of strengthening on-site financial support in connection with Woori Financial Group's "Future Co-Growth Project," which supports 80 trillion won in productive and inclusive finance.