Jun Ji-hye, a reporter at the finance desk of The Korea Times, focuses primarily on economic policy and government agencies, mainly covering the Ministry of Finance and Economy, the Ministry of Budget and Planning, the National Tax Service and the Korea Customs Service. She previously covered financial authorities, including the Financial Services Commission and the Financial Supervisory Service, and earlier worked on the political, city and business desks, reporting on a wide range of issues.
Woori Bank launches loan for promising regional industries under president’s productive finance push
Woori Financial Group Chairman Yim Jong-yong speaks at a briefing at the group's headquarters in Seoul, Sept. 29, announcing plans to invest 80 trillion won in future co-growth initiatives by 2030, in line with the Lee Jae Myung administration’s push for productive finance. Yonhap
By Jun Ji-hye
Woori Bank introduced a new loan program aimed at fostering promising industries outside the Seoul metropolitan area, in line with President Lee Jae Myung's drive to shift toward productive finance, the bank said Thursday.
The program is part of Woori Financial Group Chairman Yim Jong-yong’s broader 80 trillion won ($56 billion) plan to expand productive and inclusive finance. Of that total, 16 trillion won is earmarked to nurture advanced strategic industries in regional areas. Through this initiative, the bank seeks to strengthen region-specific financing support.
The Lee administration has made productive finance a central pillar of its financial policy, aiming to revitalize the Korean economy by redirecting funds previously tied to real estate or dependent on interest income toward advanced industries.
In line with this vision, Woori Bank’s new loan program offers preferential interest rates and expanded credit limits for promising companies based outside the capital region.
Regional enterprises recommended by public institutions or industry associations, as well as those engaged in high-potential sectors, will receive favorable lending terms.
The lender will also increase facility loan limits by up to 15 percent for regional companies seeking to purchase commercial properties outside the Seoul metropolitan area.
“The new product aims to expand the supply of productive finance and strengthen a virtuous cycle of regional growth by supporting small- and medium-sized enterprises,” a Woori Bank official said. “We are committed to addressing economic concentration in the capital region and promoting balanced national development.”
On Sept. 29, Yim announced plans to inject 80 trillion won into future co-growth initiatives by 2030, aligning with the Lee administration’s push for productive finance.
During a joint briefing at the group’s Seoul headquarters attended by CEOs of its major subsidiaries, Yim said, “We humbly acknowledge the criticism that Korean financial institutions have been overly reliant on interest income. Woori Financial Group will actively contribute to strengthening the nation’s industrial competitiveness.”