Woori Financial Group Chairman Yim Jong-yong met Henry Fernandez, chairman and chief executive of global index provider MSCI, in Seoul on Thursday to discuss climate change and artificial intelligence's impact on finance.
The meeting at Woori's headquarters covered financial firms' responses to both trends, as the Korean banking group expands financing for companies' low-carbon transition and adopts AI to streamline lending assessments.
Woori targets 100 trillion won ($73.7 billion) in environmental, social and governance financing by 2030, having provided a cumulative 67 trillion won by the end of 2025. It plans to use its corporate banking capabilities to increase funding for low-carbon projects and green industries, supporting the government's green transition strategy.
The group is also using an AI advisory service to help assess whether companies' activities qualify under Korea's green taxonomy, which defines environmentally sustainable economic activities. The service helps streamline loan reviews.
Woori Bank had extended 1.8 trillion won in green loans meeting those standards as of September.
"This meeting was an opportunity to exchange views on global financial issues, including climate change and AI," Yim said. "Woori Financial will support companies' low-carbon transition and continue using AI to improve operations and productivity."
jwc@heraldcorp.com
