Woori Bank said on the 15th that it signed a "productive financial support business agreement to foster advanced strategic industries" with Hyosung at Hyosung's headquarters in Mapo-gu, Seoul. The signing ceremony was attended by Woori Bank President Jeong Jin-wan, Hyosung Vice Chairman Lee Sang-woon, and key executives from both companies.
The two sides agreed to set a total financial support limit of 2 trillion won over the next five years and cooperate to expand investment in advanced strategic industries. The large-scale financial support was prepared as part of Woori Financial Group's "Future Co-growth Project." Under the agreement, Woori Bank plans to provide financial support limits to major affiliates of Hyosung, including Hyosung Heavy Industries, Hyosung TNC, and Hyosung Neochem.
In particular, the agreement applies a "pre-approved credit line" method that sets loan limits in the investment planning stage. According to Woori Bank, this allows corporations to swiftly use the funds they need without repeating separate financial procedures at each investment execution point, improving execution and reducing uncertainty in financing.
Noh Yong-pil, head of Woori Bank's Corporate Sales Strategy Department, said, "This agreement is a representative case of productive finance that supports corporations' future investment through preemptive financial support for advanced strategic industries," adding, "We will provide optimal financial solutions so Hyosung can focus on securing future growth engines and strengthening global competitiveness."