Jong-ryong Yim, Chairman of Woori Financial Group, Meets with President of Inter-American Development Bank... 'Discussing Financial Cooperation'

On the 27th, Jong-ryong Yim, Chairman of Woori Financial Group, met with Ilan Goldfajn, President of the Inter-American Development Bank (IDB), at the group’s headquarters in Jung-gu, Seoul. The two leaders discussed strengthening global financial cooperation and expanding future-oriented investments.
According to Woori Financial Group on the 29th, Ilan Goldfajn and his delegation visited Korea to commemorate the 20th anniversary of Korea’s membership in the IDB. Among domestic financial groups, Woori Financial Group was the only one to hold an official meeting with the IDB delegation.
The Inter-American Development Bank (IDB) was established in 1959 to promote economic and social development in Latin America and the Caribbean. It is a multilateral development bank with 48 member countries and is headquartered in Washington, D.C.
The two sides exchanged in-depth views on three main agendas: cooperation on Environmental, Social, and Governance (ESG) and green finance, participation in the Trade Finance Facilitation Program (TFFP), and support for Woori Financial Group’s expansion into Latin America.
The IDB proposed joint participation in lending programs for Latin American infrastructure and green finance, including syndicated loans. Woori Financial Group agreed to consider developing this proposal as a model for ESG finance expansion.
They also discussed supporting trade finance between Korea and Latin America through participation in the Trade Finance Facilitation Program (TFFP) guaranteed by the IDB. Woori Financial Group will actively consider joining the TFFP and plans to expand investment banking (IB) operations and ESG-based global financial cooperation with the IDB.
Chairman Yim stated, “The IDB is an important partner for expanding Woori Financial Group’s global cooperation network. We will strengthen collaboration in a variety of fields, including ESG, trade finance, and IB.”
Woori Financial Group plans to use this meeting as an opportunity to establish a practical cooperation system with the IDB, including forming a joint team, and to further strengthen its position in the international financial market by expanding global investment and financial support.

mj@fnnews.com Park Moon-su Reporter