Banking group plans new refinancing products, integrated support platform for lower-credit customers Woori Financial Group CEO Yim Jong-yong (Woori Financial Group) Woori Financial Group Chairman Yim Jong-yong called for stronger support for young people and borrowers with low-to-mid credit scores, urging the group to build a financial safety net that customers can feel in practice."Financial support for lower- and mid-credit borrowers should be pursued as part of a financial safety net to close blind spots and protect vulnerable groups," Yim said at the May Advanced Strategic Industry Finance Council held Friday."Young people are the key generation that will lead our future, and we must continue providing practical financial support so they do not lose hope."The meeting brought together 19 top executives, including subsidiary CEOs and holding company division heads, to review the group's inclusive finance efforts and future implementation tasks.Woori affiliates had extended a combined 514.8 billion won ($342.3 million) in mid-rate loans as of April. Woori Bank provided 218.6 billion won in "Saehuimang Holssi" loans in the first quarter, one of the highest levels among commercial banks.The group's nonbanking units have also expanded support. Woori Financial Savings Bank had provided a cumulative 221.9 billion won in inclusive finance loans as of April, while its acceptance rate for requests to lower interest rates stood at 50.7 percent last year — the highest among savings banks affiliated with financial holding groups.Woori is set to launch Won Dream Refinance Loan, a refinancing product for the group's nonbanking sector, later this month. The product will carry an annual interest-rate cap of 7 percent and allow installment repayment over as long as 10 years.The group also plans to roll out an integrated inclusive finance platform soon.“All subsidiaries should pay continued attention to delivering benefits that customers can actually feel,” Yim said.