Woori Finance to Invest 200 Billion Won in National Growth Fund as First in Finance Sector
Woori Financial Group announces its investment of 200 billion won in Korea's National Growth Fund, marking the first move in the financial sector towards this initiative.
On November 11, Woori Financial Group announced that it would be the first financial institution to invest 200 billion won in the National Growth Fund in South Korea. This investment is part of a larger commitment where the group plans to contribute 10 trillion won over the next five years towards private financing for the fund. For this year, they are set to invest approximately 400 billion won in a self-fund aimed at creating private finance under the National Growth Fund, with the initial 200 billion being used to establish the Woori National Growth Matching Fund.
The newly established Woori National Growth Matching Fund aims to supply funds to strategic future industries without relying on external investors, as it will be fully financed by Woori's own subsidiaries, including Woori Bank, Woori Financial Capital, and Woori Investment & Securities. This initiative is significant as it not only highlights Woori's proactive role but also emphasizes the cooperative effort within the finance sector to support government-led funding strategies.
The significance of this step, as expressed by Woori Bank, lies in its ability to catalyze private investment within the financial sector. By being the first to engage in such a public-private partnership, Woori Financial Group aims to ensure the successful establishment of the National Growth Fund in the market. This move highlights the growing collaboration between private and public sectors in Korea's financial landscape aimed at bolstering economic growth and supporting strategic industries.