Woori Bank partners with Taekwang Industrial for preferential financing to suppliers

Woori Bank has entered into a business agreement with Taekwang Industrial, a company specializing in textiles and petrochemicals, to foster "win-win finance." The core of this partnership involves Woori Bank providing preferential "win-win loans" to Taekwang's partner companies, funded by a 20 billion won deposit entrusted by Taekwang.

The agreement was officially signed on the 20th at Taekwang Industrial's headquarters in Jung-gu, Seoul. Key executives from both Woori Bank and Taekwang Industrial attended the ceremony, including Bae Yeon-soo, Head of Woori Bank's Corporate Group, and Jeong In-cheol, Co-CEO of Taekwang Industrial.

The primary objective of the collaboration is to strengthen the cooperative ecosystem between Taekwang Industrial and its network of partner companies. By offering customized financial services, Woori Bank plans to provide interest rate benefits of up to 3.5 percentage points to these partner firms.

This initiative is expected to alleviate the financial burden of borrowing for Taekwang's suppliers, enabling them to concentrate more on investment and business expansion. Both companies anticipate that this tailored financial support will lay the groundwork for sustainable, mutual growth.

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By providing customized financial services to Taekwang Industrial's partner companies, we can establish a foundation for sustainable mutual growth.