April 25, 2024

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[THE INVESTOR] Woori Bank said on Nov. 21 it plans to boost financial support for midsized companies with high growth potential over the next four years to help them develop technologies and tap overseas markets.

Korea’s third-largest commercial lender said it will provide those high potential enterprises with a financial support package totaling 3 trillion won (US$2.70 billion) by 2022.

The package will come in the form of a direct investment worth 20 billion won, loans backed by their movables or underwritings of their bond sales overseas.

Woori unveiled the plan at a business summit for midsized companies, hosted jointly by the lender and the Association of High Potential Enterprises of Korea.

The bank also signed a deal with the association, the Korea Trade-Investment Promotion Agency and two state agencies to support their innovation and growth.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)