[Sponsored Report] Woori CEO visits market

Lee Chong-hwi (right), president and CEO of Woori Bank, visits a beneficiary of its Smile Microcredit Bank.

Lee Chong-hwi, the president and CEO of Woori Bank, visited the Nonhyun-dong Yongdong market just before the Lunar New Year to meet Ms. Park, one of the market workers who has benefited from the Smile Microcredit Bank. Last year, in the middle of the financial crisis and with her husband in the hospital, Park received financial support from the bank in order to improve her side-dish shop at the traditional market up. Park said Lee had given her hope during a difficult time, and expressed her wish that more people will have the chance she was given.

More will. The bank plans to regularly meet with small businesses owners to help them maximize their efficiency and profits.

The Smile Micro Credit Bank was established on Dec. 17, 2009, and already has more than 1,500 consulting clients. One hundred seventy-one million won ($151,000) has been donated to support 27 cases as of early February. This year, it will open branches in Gwangju and Masan.

The Seodaemun Social Welfare Institute in the Seodaemun District Chonyon-dong received aid under the “Woori Loves Nanumteo” program, the bank’s social-welfare partnership to support local communities.

The bank has also dedicated 300 million won to 30 welfare centers and dedicated volunteer hours to the project.

“We think our contributions will contribute to a happy society,” bank deputy president Lee Soon-woo said at a signboard-hanging ceremony at the Seodaemun welfare center, one of the bank’s partners.
By Lee Ji-hyun [concordia@joongang.co.kr]