Woori Financial Group has signed a multilateral memorandum of understanding with Korea Aerospace Industries, the Korea Aerospace Industries Association and Korea Technology Finance Corporation to support the development of the nation’s aerospace sector.
The agreement, signed May 9, aims to establish a cooperative framework to foster technological independence and strengthen global competitiveness in aerospace, recognized as a strategic future industry for Korea.
As part of the initiative, Woori Bank plans to launch a dedicated loan product for KAI’s partner companies, using integrated electronic procurement data to offer tailored financial support for production funding.
Furthermore, Woori Bank will provide a special contribution of 3 billion won ($2.1 million) to Kibo, enabling around 120 billion won in guaranteed loans for KAI’s partners and association members under preferential conditions. This includes research and development, facility investment and export expansion by KAI.
Woori Financial Group will also commit 2 trillion won in comprehensive financial support for the aerospace ecosystem through its affiliates, such as Woori Investment & Securities and Woori Venture Partners.
The group will offer a variety of solutions, including corporate bonds, specialized aerospace investment products and direct investments in startups recommended by KAI and the association.
“Aerospace is a high-value, technology-intensive industry and a critical growth engine for Korea,” said Woori Financial Group Chairman Yim Jong-yong. “We will provide full support to help companies strengthen technological competitiveness and respond flexibly to changes in the global supply chain.
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