Succession becomes SME banking’s next frontier in South Korea
Woori Bank’s Corporate Succession Support Center is a key pillar of its SME strategy in Korea, combining advisory and financing to turn succession into both a continuity challenge and a growth opportunity for SME banking.
South Korea is entering a quiet but profound turning point for its small and mid-sized business sector—one that could reshape the country’s industrial fabric over the next decade.
Today, the average SME owner in Korea is 55 years old. More than one in three (33.3%) are already aged 60 or older, and over 70% are above 50, underscoring the rapid aging of business leadership across the country.
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