The Woori Financial Group switched to an emergency management posture on the 7th and decided to prioritize support for export and import corporations that are significantly impacted by tariffs.
Woori Financial held a meeting of the 'Mutual Tariff Damage Support Task Force (TF)' on the afternoon of the 7th, chaired by Yim Jong-ryong. Yim said, "From this point forward, we will immediately switch to an emergency management posture and actively cooperate with the policy direction and response of the financial authorities."
He also urged, "Please establish effective support measures based on the specific difficulties and needs of corporate clients identified directly on the ground." Woori Bank's corporate finance relationship managers (RMs) have begun on-site inspections and assessments of financing needs for export and import corporations.
Woori Financial created a TF involving executives responsible for strategy, finance, corporate, and risk management to respond to the imposition of mutual tariffs by the U.S. on the 4th. The TF will identify the challenges faced by industries and corporations significantly impacted by mutual tariffs, establish support measures, and also check for foreign exchange supply issues due to rapid exchange rate fluctuations and formulate countermeasures.