Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
Woori Financial Group unveils $4.5 bil. investment roadmap to support startups
Park Jeong-hoon, head of Woori Finance Research Institute, speaks during a press conference at Woori Financial Group headquarters in Seoul, Tuesday. Courtesy of Woori Financial Group
By Lee Hyo-jin
Woori Financial Group on Tuesday unveiled a roadmap to invest 7 trillion won ($4.5 billion) in innovative companies, detailing a financing system that supports startups from seed funding through initial public offerings (IPOs) as part of its broader productive finance initiative.
Under the plan, Woori will finance startups throughout their life cycle, providing funding from the seed stage to public listings through its banking, securities and venture investment units.
The announcement came during a press conference hosted by the Woori Finance Research Institute, where the financial group outlined its startup investment strategy and broader vision for productive finance.
Early-stage startups will receive backing through DinnoLab, the group's startup incubation platform, with funds of less than 50 billion won. Companies entering the growth stage will be funded through the group's corporate venture capital funds of up to 100 billion won.
Businesses preparing for large-scale expansion or IPOs will be supported by Woori Venture Partners and Woori Investment & Securities, which manage funds exceeding 100 billion won and provide capital markets support.
Woori said the framework is designed to provide uninterrupted financial support throughout a startup's life cycle, from incubation and follow-on investment to scaling up and IPOs.
"We will help startups and young companies secure investment and business opportunities they need to become Korea's future growth engines," Woori Financial Group Chairman Yim Jong-yong said in a statement.
"By connecting investment, incubation and our groupwide network through DinnoLab, we aim to become a reliable partner for innovative businesses, including those outside the capital region."
The 7 trillion won investment is a part of the group's 90 trillion won "future shared growth project" unveiled last year to expand productive and inclusive financing over the next five years.
The financial group also highlighted efforts to expand startup investment beyond the Seoul metropolitan area.
The push comes as the government places greater emphasis on balanced regional development through major development projects covering the country's southwest, central and southeast regions.
Woori currently operates seven DinnoLab centers, including four regional hubs in South Gyeongsang, North Chungcheong and North Jeolla provinces, as well as Busan. Since 2024, 69 startups outside the capital have joined the program, accounting for roughly two-thirds of newly selected companies over the past two years.
As of June, DinnoLab had discovered and nurtured 231 startups over the past seven years, with the group's cumulative investments for startups reaching 470 billion won.