On October 1, Woori Bank President Kwon Kwang-seok (center) participates in the Me-First Recycling Campaign and the Woori Garden Day Campaign with employees at the Woori Bank Headquarters in Jung-gu, Seoul. (Photo: Woori Bank)

Woori Bank announced on Oct. 1 that it will hold the “Me-First” Recycling Campaign to introduce recycling boxes to its headquarters and “Woori Garden Day to provide low-carbon menus every Friday as part of its bank-wide ESG campaign to strengthen ESG management.

The Me-First Recycling Campaign is an eco-friendly activity in which all employees participate in recycling in their daily lives by removing personal trash cans from all departments at the headquarters and replacing them with recycling boxes.

In addition, for effective recycling, the bank plans to improve the working conditions of cleaners.

Every Friday will be designated as Our Garden Day, and menus of the cafeteria for employees will be provided based on a vegetarian-oriented low-carbon diet.

A low-carbon diet can reduce greenhouse gas emissions by up to 80 percent compared to an meat-based diet. It is also effective in preventing diseases, such as metabolic syndromes.

Woori Bank also plans to spearhead the Zero-Leftover Campaign to reduce carbon in daily lives. “The installation of waste separation collection boxes and the introduction of a low-carbon diet began with employees’ consensus that they should participate in environmental protection and resource circulation activities even they have to experience small inconveniences,” said Kwon Kwang-seok, president of Woori Bank.

Woori Bank plans to carry out various ESG campaigns this year including the pledge of participating in ESG management principles, a campaign to donate money in accordance with steps taken by employees, a blood donation drive and an anti water-leak campaign.

Meanwhile, Woori Bank announced on Sept. 22 that it will launch the Corporate Succession Tax Consulting Service by assembling a team of experts and professionals in various fields to meet increasing demand for consulting on corporate succession.

Woori Bank’s TAX Consulting Center provides general consulting services, ranging from accounting to financial affairs, and tax work needed in a corporate succession process.

In addition to consulting on succession, it also provides customized services to corporate customers who are considering selling and liquidating companies they inherited.

In addition to face-to-face corporate succession counseling, consulting can be offered using a video counseling system.

The service can be applied and booked through Woori WON Banking and Internet Banking, and the cost is free.

In addition to consulting services, it plans to hold seminars under the theme of corporate succession and provide education programs for next-generation entrepreneurs.

“We have prepared the Corporate Succession Tax Consulting Service for company owners considering corporate succession,” a Woori Bank official said. “Our experts in various fields will do their best to provide high-quality services.”

Since corporate succession usually involves large tax issues, next-generation owners who want to continue their family business regardless of the sizes of their companies often have difficulty defending their management rights unless they are prepared for corporate succession.

On the other hand, Woori Bank held an online seminar “Woori Wealth LIVE” on its YouTube channel on Oct. 6.

The theme of the seminar was “Rising Interest Rates in the “With COVID-19” Era, Normalizing Monetary Policy and Outlook on Financial Market.

It was held with the attendance of macroeconomic experts from the Woori Financial Research Institute. It was held in the form of a talk show with the host.

Heo Moon-jong, a research fellow at the Economic and Global Research Room of the Woori Financial Management Research Institute’s Economic explained the normalization process of monetary policies, including inflation and interest rate hikes, which have emerged as major concerns in the financial market with the advent of the COVID-19 era.

Heo made a detailed presentation on key financial market issues and checkpoints with experts amid financial market participants’ growing concerns about the spread of COVID-19 variants and an inflation despite the recent expansion of vaccinations.