Woori Financial Group extends W6.6tr loan support to SMEs, startups

Woori Financial Group said Friday that it has helped finance small and midsized companies and startups with 6.6 trillion won ($5.6 billion) in loans as of September.

The announcement came a day after Woori held a meeting of its innovation finance committee to discuss both existing and future plans to support SMEs and startups. The committee, led by Woori Financial Group Chairman Sohn Tae-seung, was launched in May in an effort to improve access to financing for SMEs and startups. 

The latest figure for loans to SMEs and startups has surpassed Woori’s initial quota for the period by 22 percent, according to the firm. 

(Yonhap)

Woori has also been offering financial aid to South Korean SMEs and manufacturers hit by Japan’s decision to impose export curbs on materials essential for semiconductor and display production, in the form of loans and other types of support.

By Jung Min-kyung (mkjung@heraldcorp.com)