The announcement came during the 'May Advanced Strategic Industry Finance Council' held on May 15 at the group's headquarters in Jung-gu, Seoul, chaired by Chairman Im Jong-ryong. The council discussed the implementation tasks and achievements of inclusive finance.
Since establishing productive and inclusive finance as a core long-term strategy in September of last year, Woori Financial has held monthly meetings chaired by the chairman to review progress. This month's meeting included 19 participants, including CEOs of subsidiaries and heads of divisions, who discussed ways to expand financial support for youth and low-credit borrowers.
The new integrated 'Woori One Dream Refinancing Loan' will be available by the end of this month, enabling low-credit customers who have been using credit cards, capital loans, and savings bank loans to transition to lower-rate bank loans.
The maximum interest rate will be set at 7% per year, with a repayment period of up to 10 years in installment payments. The program will utilize alternative credit assessment models to assist individuals such as homemakers and freelancers, who may have difficulty providing income verification, in accessing formal financial services.
Additionally, Woori Financial plans to launch an integrated platform called '36.5 Degrees' by the end of this month, which will consolidate inclusive finance products from its subsidiaries. The group aims to expand its inclusive finance initiatives to 7.2 trillion won, accelerating its commitment to cooperative finance.
Im Jong-ryong, Chairman of Woori Financial, stated during the meeting, "Youth are a key generation that will lead our future, and we must continue to provide substantial financial support to ensure they do not lose hope. Financial support for low-credit borrowers should also be pursued as a means to eliminate financial blind spots and protect socially vulnerable groups as part of a financial safety net."
* This article has been translated by AI.
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