Woori Bank Signs Green Finance Agreement with Korea Technology Finance Corporation and NongHyup Bank to Support Low-Carbon Transition Companies

Interest Subsidies, Preferential Rates, and Guarantee Fee Support for SMEs and Mid-Sized Companies Reducing Greenhouse Gas Emissions

Woori Bank has joined forces with the Korea Technology Finance Corporation and NH NongHyup Bank to support the low-carbon transition of small and medium-sized enterprises (SMEs) and mid-sized companies that contribute to greenhouse gas reduction.

At the 'Green Policy Finance Interest Subsidy Support Agreement Guarantee' signing ceremony held at the Korea Technology Finance Corporation on the 25th, (from right) Yeonsu Bae, Corporate Group Head at Woori Bank, Jaepil Lee, Executive Director at Korea Technology Finance Corporation, and Eulyong Eom, Vice President of Corporate Finance Division at NongHyup Bank, are posing for a commemorative photo. Courtesy of Woori Bank.

On June 26, Woori Bank announced that it had signed a "Green Policy Finance Interest Subsidy Support Agreement Guarantee" with the Korea Technology Finance Corporation and NongHyup Bank on the 25th.

This agreement aims to identify SMEs and mid-sized companies with significant greenhouse gas reduction effects that also meet the requirements of the Korean Green Taxonomy (K-Taxonomy), in order to reduce their financial costs.

Under the agreement, the Korea Technology Finance Corporation will issue credit guarantees based on carbon value assessment, greenhouse gas reduction evaluation, K-Taxonomy compliance evaluation, and guarantee screening results.

Woori Bank will provide financial support to SMEs and mid-sized companies that are implementing greenhouse gas reduction initiatives, provided they demonstrate a certain level of reduction effectiveness and K-Taxonomy compliance.

Eligible companies can receive differentiated interest subsidies and preferential rates based on their size and greenhouse gas reduction rates. Woori Bank also expects that support for guarantee fees using the agreement guarantee will help further alleviate financial burdens for these companies.

Bae Yeonsu, Head of the Corporate Group at Woori Bank, said, "We hope this agreement will serve as an opportunity to improve financial accessibility for SMEs and mid-sized companies pursuing green transition amid strengthening global environmental regulations and the spread of ESG management. We will continue to expand financial support to promote green finance and encourage companies’ eco-friendly investments."

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