Woori Bank taps foreign students for WISH program

[Courtesy of Woori Bank]

Woori Bank has launched an internship program targeting foreign students studying in Korea to foster financial experts in Southeast Asia.

According to Woori Bank on Sunday, the bank selected eight foreign students for its Woori Internship, Scholarship & Hiring (WISH) program. During the one-month internship, which runs until early August 2024, the students will receive basic banking training, conduct market research, visit specialized branches, and engage in social contribution activities.

The WISH program was proposed by CEO Cho Byung-kyu during his visit to the bank’s Vietnamese branch in September 2023. It aims to identify talents with a deep understanding of Korea and familiarity with local conditions, offering them training and potential employment. The bank plans to develop these individuals into financial experts who can play key roles at the bank’s headquarters in Korea.

Among the eight participants, four are Indonesian and four are Vietnamese nationals. Four participants will receive scholarships and have the opportunity to work at Woori Bank’s overseas branches after graduation. “Young people in Indonesia are very interested in digital banking, and I plan to learn intensively about Woori Bank’s digital strategy,” an Indonesian participant said. The selected students met with Cho earlier in July.

Woori Bank plans to regularize the WISH program to build a foundation for attracting overseas talent. It also aims to expand the secondment of Korean employees to overseas branches, aiming for them gaining experience locally for over 10 years rather than the usual short-term stays of three to four years. Woori Bank aims to increase the proportion of overseas net profit to 25 percent of the total net profit by 2030. The WISH program is also in line with such a goal, which will serve as an opportunity to increase personnel exchanges between headquarters and overseas branches.