“It is not easy for small and medium-sized enterprises to establish their own supply chains, payment networks, and financial support infrastructure,” said Jung Jin-wan, president of Woori Bank at the Inclusive Finance Platform Press Conference held at Woori Bank’s headquarters in Jung-gu, Seoul, on July 10.
Reflecting the voices of those in the Korean industry, Woori Bank has become the first in the financial sector to provide the supply chain finance platform One Biz Plaza Service.
“Within the One Biz Plaza Platform, large corporations and SMEs and manufacturing and service industries, export and non-export companies will be able to achieve inclusive growth through mutual prosperity,” Jung added.
Woori Bank pledged to go hand in hand with the Korean government’s policy of inclusive finance and “real growth” for Korea. “We will strive to practice fairness and mutual growth,” Jung added.
“Ninety-nine percent of Korean companies are SMEs, accounting for 88% of employment. When expanding the platform business, we will be able to provide support in other various ways.”
The briefing session was held to introduce the corporate finance platform Wonbiz Plaza, as well as Wonbiz e-MP and Woori SAFE Settlement.
Woori Bank said that these services enable stable supply chain management and financial support for both purchasing companies and partner companies.
Woori Bank’s One Biz Plaza was launched in September 2022 to support the growth of SMEs and small businesses.
As of the first half of this year, 78,565 companies were members of One Biz Plaza.
The number of electronic contracts concluded through One Biz Plaza ascended from 1,780 at the end of 2023 to 13,186 at the end of 2024 and to 21,260 in the first half of this year.
Member companies can use all functions of the standard purchasing process, from purchase requests to quotations, bidding, unit price contracts, orders, and inspections, free of charge on the platform.
It also offers functions specialized for supply chain management, such as public bidding, budget management, supplier searches, reverse auctions, and multilateral contracts.
It also serves as a welfare platform for SME employees. In collaboration with over 30 partner companies recruited by Woori Bank, it provides welfare services to employees of mid-sized and small businesses.
Woori Bank aims to expand the number of member companies to 100,000 by the end of this year.
5th WooriCON Hacking Competition
Woori Bank and the Financial Security Institute will jointly hold the 5th WooriCON Hacking Competition.
The competition will run from August 18 to 29. It will be held in the form of a “bug bounty,” which is a reward system for security vulnerability reports, to find and eliminate security vulnerabilities in Woori Bank’s internet banking and Woori WON banking systems.
Woori Bank will comprehensively evaluate their security vulnerability discovery levels and the creativity of the teams participating in this competition.
The bank will select four teams including one grand prize winner, one excellence prize winner and one participation prize winner to award a total of 8.5 million won in prize money.
Woori Art Contest
Woori Bank will hold the 28th Woori Art Contest to encourage the artistic imagination of children and teenagers.
This year, the contest will expand opportunities for children with developmental disabilities for the promotion inclusive art.
On Aug. 3, Woori Bank announced that it will hold the 28th Woori Art Contest for two months from August to October.
Now in its 28th year, the Woori Art Contest is one of Korea’s leading art contests for children and teenagers, sponsored by the Ministry of Culture, Sports and Tourism and the Ministry of Education.
Winners will receive various awards and scholarships, including the Minister of Culture, Sports and Tourism Prize and the Woori Bank President’s Prize.
This competition is themed “Fill Your Space of Imagination,” embodying the hope that children’s imagination will become a force to transform the world into a better place to live.
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