Base rate of 3% with bonus rates tied to overall standing, cheering comments
Woori Bank has launched "Woori Team Korea Savings 2," a savings account offering an annual interest rate of up to 7.5%, to cheer South Korea's national team competing at the Aichi-Nagoya Asian Games, which open Sept. 19.
Woori Financial Group is an official sponsor of the Korean Sport & Olympic Committee and the national team, Team Korea. The new product is the second the group has released to support the national team this year, following one tied to the Milan-Cortina d'Ampezzo Winter Olympics earlier this year. The account uses a collective cheering format in which the bonus rate rises as more customers show their support, aiming to boost interest in the sports the national team competes in.
The product is a flexible installment savings account with a 12-month maturity, allowing deposits of up to 300,000 won ($221) per month. The base rate is 3.0 percent per year, and customers who meet bonus conditions can earn up to an additional 4.5 percentage points, bringing the maximum annual rate to 7.5 percent.
Under the "Team Korea Cheering Together" bonus, customers who post at least one comment on the cheering board receive an additional 0.2 percentage points per year. The bonus expands in stages each time cumulative comments reach 100,000, 200,000, 300,000 and 400,000, up to a maximum of 1.0 percentage point per year.
The bonus rate also varies depending on South Korea's final standing at the Asian Games. A first-place overall finish earns an additional 1.5 percentage points per year, second place earns 1.0 percentage point and third place earns 0.5 percentage point. The product links the bonus rate to both customer enthusiasm and the national team's performance, combining sports sponsorship with financial benefits.
Customers who have not held a Woori Bank deposit or savings account in the previous six months, as well as those who had no Woori Bank account as of the last day of the previous year, are each eligible for an additional 1.0 percentage point per year.
"We designed this product to cheer alongside our customers for the sweat and moments of challenge our athletes have poured into their sport," a Woori Bank official said. "We hope it becomes an opportunity for more people to take an interest in Team Korea as they compete across a wide range of events under the national flag."
forest@heraldcorp.com
