Woori plans to use Poland branch to support Ukraine's postwar recovery
The head of Woori Bank aims to position the bank's newly launched branch in Poland as a strategic outpost to Eastern Europe and beyond, particularly in supporting Korean companies likely to be involved in Ukraine's postwar reconstruction.
Woori Bank CEO Jung Jin-wan expressed strong interest in partnering with state-run Korea Water Resources Corporation, or K-water, to play a leading role in rebuilding Ukraine's water infrastructure, a critical need in the aftermath of the war.
'The most urgent requirement after the war is water infrastructure,' Jung said during a press briefing at the Asian Development Bank's annual meeting in Milan, Italy, Sunday. 'Our new branch in Poland, located right next to Ukraine, is not just another overseas office. It's a core part of our long-term global strategy.'
In November 2023, K-water signed a memorandum of understanding with the Ukrainian city of Bucha to cooperate on recovery efforts, including the restoration of its water facilities.
'Even if housing and industrial complexes are rebuilt, water remains essential — not only for irrigation but also for food and beverage production,' Jung said. 'K-water, with its globally recognized technology, will be instrumental in redeveloping Ukraine's infrastructure. They have already made significant preparations on the ground.'
In March, Woori Bank became the first Korean bank to open a branch in Warsaw, the capital of Poland.
As Korean companies continue to increase their presence in the region, Woori Bank sees an opportunity to support their financial needs and help shape Poland as a financial gateway to Eastern Europe.
With an average economic growth rate of 2.8 percent over the past three years, Poland is experiencing rising financial demand, fueled in part by the expansion of Korean manufacturing and mid-sized enterprises into Eastern Europe.
Major Korean companies — including Hanwha Aerospace, Hyundai Rotem, Korea Aerospace Industries, Samsung Electronics, LG Electronics, Hyundai Motor, and Kia —have already established operations in Warsaw.
The new Polish branch will oversee Woori Bank's business across Eastern Europe, including activities in Hungary, the Czech Republic, Slovakia and Romania.
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