Woori Financial Group has announced the establishment of a 500 billion won infrastructure fund aimed at supporting balanced regional development through investments in renewable energy projects.
On October 17, Woori Financial Group officially announced the creation of a 500 billion won fund dedicated to regional development, with a strong emphasis on balanced growth across regions. This fund, known as the 'Woori Regional Development Infrastructure Fund,' will invest over 70% of its assets into projects aimed at enhancing regional infrastructure. The fund will be fully financed in collaboration with the group's subsidiaries, including Woori Bank, securities, and insurance companies, while the management will be solely handled by Woori Asset Management.
The primary focus of this fund will be on significant renewable energy projects, including a 400MW solar power project in Haenam, Jeollanam-do, and a 76.2MW offshore wind project in Gochang, Jeollabuk-do. Both projects aim to expand renewable energy infrastructure in non-metropolitan areas of South Korea. Additionally, the company is considering investments in various social infrastructure projects, such as local express highways, sewage treatment facilities, and advanced digital infrastructure to further support regional development.
Wang Je-yeon, the Deputy Head of Woori Bank’s Infrastructure Finance Department, emphasized the fund's role as a model for productive finance and its intention to closely link with government initiatives, such as the national growth fund, to bolster growth in local industries and infrastructure. This initiative reflects Woori Financial Group's commitment to contributing to the balanced economic development of Korea's diverse regions, especially those outside the capital area.
