Woori Bank to Inject 3 Trillion Won into Corporate Succession Support

Woori Bank has decided to invest more than 3 trillion won over the next five years to help small and midsized companies with smooth business succession. At a press briefing held on the 1st at Woori Bank’s headquarters in Junggu, Seoul, Woori Bank President Jeong Jinwan announced a dedicated support plan that includes acquisition financing, succession funding loans, guarantee and consultinglinked financing, and more. The bank views corporate succession not simply as a transfer of management rights, but as a task connected to job retention, technology preservation, and supply chain stability. Woori Bank established the Corporate Succession Support Center in February this year and has also been promoting guarantee supply through an agreement with the Korea Technology Finance Corporation. In addition, it plans to strengthen an integrated support system that extends from succession preparation and implementation to postsuccession management stabilization by working with experts in the legal, accounting, and tax fields. The bank also set a goal of providing consulting to about 500 companies annually.