Korea SMEs and Startups Agency (KOSME) said on the 17th that it signed a business agreement for "Woori Win-Win Naeil Chaeum Mutual Aid" with Woori Bank at Woori Bank's headquarters in Jung-gu, Seoul. The signing ceremony was attended by Jo Han-gyo, KOSME's director of workforce growth, and Bae Yeon-su, Woori Bank's vice president.
Through this agreement, the two institutions will provide grants totaling 7.5 billion won over five years to support the contributions of corporations enrolled in the mutual aid program. The targets are small and medium-sized corporations and workers who use Woori Bank as their payroll account. If a worker pays 100,000 won each month, Woori Bank will cover part of the corporate contribution of 240,000 won. The amount thus accumulated is 12.24 million won for the three-year plan, 16.32 million won for the four-year plan, and 20.40 million won for the five-year plan, and will be paid to long-tenured workers along with separate compound interest.
Depending on the requirements, one can enroll in the basic, advanced, or joint type. Under the basic type, if a worker pays 100,000 won monthly, Woori Bank supports the same amount to the corporation for six months. The advanced type provides an additional 100,000 won per month for 12 months to corporations recommended by Woori Bank among those enrolled in the basic type that meet export-import transaction records or use a supply chain payment solution.
Lastly, the joint type is available under conditions recommended by Woori Bank among subscribers to the advanced product. In this case, KOSME will also provide additional support for the corporate contribution of 100,000 won per month for 12 months, allowing beneficiaries to receive up to 2.4 million won from the two institutions. However, the joint type will be limited to 250 enrollees among those who sign up in 2025.
Guidance and applications for the mutual aid program are available at Woori Bank branches nationwide. Recruitment will proceed after this agreement. Woori Bank will review eligibility and recruit corporations and workers, and KOSME will make the final selections.
Jo Han-gyo, KOSME's director of workforce growth, said, "As the manpower challenges facing small and medium-sized corporations are difficult for a single institution to solve, this agreement is an important starting point for seeking solutions together with a private financial institution," adding, "We will continue to combine policy support with private-sector cooperation to create an environment in which core personnel at small and medium-sized corporations can grow stably."