Woori Bank said on the 6th that it has launched the "Woori Team Korea Savings 2," a deposit product offering an annual interest rate of up to 7.5%, to support Team Korea, the South Korean national squad competing at the Aichi-Nagoya Asian Games that open on the 19th.
Woori Financial Group is an official sponsor of the Korean Sport & Olympic Committee and Team Korea. The product is the group's second savings offering tied to the national team, following one released earlier this year for the Milan-Cortina d'Ampezzo Winter Olympics. The structure raises bonus rates as customer participation grows, a design intended to draw attention and support to the national squad.
The Woori Team Korea Savings 2 is a flexible-installment product with a 12-month maturity, allowing deposits of up to 300,000 won per month. The base rate is 3.0%, and customers meeting various preferential conditions can add up to 4.5 percentage points for a maximum rate of 7.5%.
A "cheering together for Team Korea" bonus applies based on customer participation. Customers who post at least one comment on a cheering board, which allows one entry per day, receive a bonus of 0.2 percentage point. The rate rises in stages each time total comments surpass 100,000, 200,000, 300,000 and 400,000, for a bonus of up to 1.0 percentage point.
The national team's final standing at the Games also feeds into the bonus rate. A first-place overall finish adds 1.5 percentage points, second place 1.0 percentage point and third place 0.5 percentage point.
The bank also set conditions favoring new customers. Those who have held no Woori Bank deposit or savings products over the previous six months receive 1.0 percentage point, while customers who had no Woori Bank account as of the end of the previous year receive an additional 1.0 percentage point.
"We designed this product so that customers can join us in cheering the sweat and the challenges our athletes have poured into this," a Woori Bank official said. "We hope it broadens interest in Team Korea, whose members are competing across a range of sports wearing the national flag."
