Seoul: Woori Financial Group announced on Tuesday the introduction of a substantial financial support package valued at 10.2 trillion won (US$6.98 billion) aimed at assisting South Korean businesses in managing the consequences of reciprocal tariff measures implemented by the United States.
According to Yonhap News Agency, the group plans to increase liquidity support for export-oriented companies, their suppliers, and small businesses by rolling out a new program valued at 7.3 trillion won. This is in addition to an existing 2.9 trillion-won support initiative already in place for companies.
The enhanced support program features a range of measures, including reduced interest rates and fee waivers. Woori Financial developed this plan based on feedback gathered from exporters and related companies through its corporate lending officers nationwide. The group also indicated that it will continue to refine the program in response to market conditions.