(Photo = Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Woori Financial Group announced on the 18th that its subsidiaries have established a 100 billion KRW real estate project financing (PF) fund to support the soft landing of real estate PF projects.

The "Woori Financial PF Restructuring Support Fund" will invest in businesses looking to acquire properties classified as at-risk or in foreclosure through auctions. The fund, totaling 100 billion KRW, will be contributed by four Woori Financial subsidiaries: Woori Bank (90 billion KRW), Woori Financial Capital (3 billion KRW), Woori Investment & Securities (2 billion KRW), and Woori Asset Management (5 billion KRW), with Woori Asset Management serving as the general partner (GP).

Woori Financial highlighted that this is the first time a financial institution is incorporating auctioned or foreclosed properties into its PF investment strategy. This initiative aligns with the government's goal of swiftly restructuring at-risk projects and supporting the stabilization of the real estate market.

Including this fund, Woori Financial has injected a total of 203.5 billion KRW this year into PF restructuring efforts and plans to continue supporting the real estate market with additional PF funds if necessary.

 

 

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