Woori Financial Group Opens Financial Town in Jeonbuk Innovation City... 1.6 Trillion Won in Corporate Financing by 2030

Consolidating Group Infrastructure Including Asset Management, Corporate Finance, and Microcredit

Strengthening Cooperation with the National Pension Service

Supporting Startup Growth and Jobs for People with Disabilities

Woori Financial Group has established a new hub in Jeonbuk Innovation City, where the National Pension Service is located, concentrating the group’s financial infrastructure to help transform Jeonbuk into a financial center and support local businesses. Woori Financial Group plans to provide approximately 1.6 trillion won in corporate financing to the Jeonbuk region by 2030.

At the opening ceremony of the "Jeonbuk Woori WON Financial Town" held in Jeonbuk Innovation City on the 29th, (from left) Seung-jae Choi, CEO of Woori Asset Management, Jin-wan Jung, President of Woori Bank, Sungjoo Kim, Chairman of the National Pension Service, Jongryong Lim, Chairman of Woori Financial Group, Wontak Lee, Governor of Jeonbuk Special Autonomous Province, Jihoon Jo, Mayor of Jeonju City, and Heetae Yoo, County Governor of Wanju County, commemorated the opening with a ceremony. Provided by Woori Financial Group.

On July 29, Woori Financial Group announced the opening ceremony of the ‘Jeonbuk Woori WON Financial Town’ in Jeonbuk Innovation City. The event was attended by Wontak Lee, Governor of Jeonbuk Special Self-Governing Province, Sungjoo Kim, Chairman of the National Pension Service, Jihoon Jo, Mayor of Jeonju, Heetae Yoo, Mayor of Wanju County, and Jongryong Lim, Chairman of Woori Financial Group.

The Jeonbuk Woori WON Financial Town was established as part of Woori Financial Group’s ‘Plan to Strengthen Financial Infrastructure for Jeonbuk as a Financial Center,’ which was announced in February. By bringing together key infrastructures of the group’s affiliates—including Woori Asset Management, Woori Bank, Woori Smile Microcredit Foundation, and Goodwill Store—in one location, Woori aims to operate a regional financial hub encompassing capital markets, fund management, and both productive and inclusive finance.

Woori Financial Group has expanded its asset management and banking infrastructure in order to strengthen strategic cooperation with the National Pension Service. Woori Asset Management has established a Jeonju office within the Financial Town to enhance communication with the National Pension Service. The company plans to recruit local professionals to broaden the regional financial network and will also introduce a youth internship program for university students in Jeonbuk.

Woori Bank has placed both its Pension Fund Client Department, dedicated to serving the National Pension Service, and its Asset Custody Department in the Financial Town. Since becoming the main bank for the National Pension Service in 2018, Woori Bank has accumulated extensive experience, which it aims to leverage to further strengthen its pension fund-related financial services and support systems.

The supply of productive finance for SMEs and startups in the Jeonbuk region will also be expanded. Woori Bank is launching a dedicated corporate finance channel, the ‘NPS Jeonbuk BIZ Prime Center,’ with a focus on supporting high-tech strategic industries and related companies in Jeonbuk. Corporate finance specialists will provide comprehensive financial services—including investment, loans, and management consulting—by directly engaging with businesses in the field. Woori Bank supplied 186 billion won in financing through this center as of the end of June, and plans to provide approximately 1.6 trillion won in corporate finance to Jeonbuk by 2030.

The group also plans to foster local startups through its ‘Dinolab’ venture and startup support program. Promising startups in the Jeonbuk area will be identified and provided with office space, business opportunities in collaboration with affiliates, and investment support through Dinolab’s own venture fund, the ‘Dinolab Fund.’

Currently, 14 startups are operating in the Dinolab Jeonbuk Center, which opened in March of last year. By collaborating with Jeonbuk Special Self-Governing Province’s financial innovation venture support initiatives, Dinolab offers companies marketing resources and new opportunities for partnership with Woori affiliates.

The group is also expanding its inclusive finance infrastructure for the underprivileged and small business owners. The Woori Smile Microcredit Foundation has opened a new Jeonju branch to improve accessibility to microfinance services for disadvantaged groups in the Jeonbuk region and expand financial support. Microbusiness owners, such as young entrepreneurs who have faithfully repaid their microfinance loans, will be provided with business promotion, operational supplies, and grants. Jongryong Lim, Chairman of Woori Financial Group, stated, “Jeonbuk Woori WON Financial Town serves as a starting point for joint growth among the National Pension Service, Woori Financial Group, and the Jeonbuk-Jeonju region,” adding, “As the main bank for the National Pension Service, we will strengthen our role and strive to support the growth of local SMEs, self-employed, and startups.”

This content was produced with the assistance of AI translation services.