Woori Bank Offers "Companion Loans" to Taekwang Industrial Partners with Preferential Rates
Woori Bank and Taekwang Industrial Sign "Cooperative Finance Agreement"
Partner Companies to Receive Up to 3.5 Percentage Point Interest Rate Benefits
Woori Bank is partnering with Taekwang Industrial to strengthen the cooperative framework for mutual growth between large enterprises and small and medium-sized businesses.
Yeonsu Bae, Head of Corporate Group at Woori Bank (left), and Inchul Jung and Eboo Lee, representatives of Taekwang Industrial, are posing for a commemorative photo after signing a 'Win-Win Financial Agreement for Collaborative Growth with Partner Companies' at Taekwang Industrial headquarters in Junggu, Seoul on the 20th. Woori Bank
View original imageOn July 21, Woori Bank announced that it had entered into a "Cooperative Finance Business Agreement for Mutual Growth with Partner Companies" with Taekwang Industrial the previous day.
This agreement was established to ease the financial burden on Taekwang Industrial’s partner companies. Woori Bank will support companion loans for these partner companies based on a companion deposit of 20 billion won placed by Taekwang Industrial. Partner companies of Taekwang Industrial can receive preferential interest rates of up to 3.5 percentage points.
Additionally, Woori Bank will offer non-financial support such as business succession consulting to facilitate stable generational transitions and customized asset management services for executives and employees of partner companies. Through these measures, the bank aims to support the growth and competitiveness of its partner companies.
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Noh Yongpil, Head of Corporate Business Strategy Department at Woori Bank, said, "This agreement is a cooperative finance model that enables Taekwang Industrial and its partner companies to grow together," adding, "We will continue to provide tailored financial solutions so that our partner companies can focus on investment and business expansion with stable financial support."
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