Woori FIS, an IT affiliate of Woori Financial Group, announced on the 15th that it has signed a memorandum of understanding (MOU) with World Vision, Woori Asset Management, and ITINOMASS to develop blockchain-based donation fund financial products.

This project is a blockchain-based pilot and spread national research project in the private sector. For the first time in the financial sector, it will be designed and implemented to reflect digital new technologies of blockchain technology, irreplaceable tokens (NFT), and donation decentralization organizations (DAOs) so that donations can be managed transparently in World Vision.

Woori FIS won the project in recognition of its expertise in blockchain technology, financial artificial intelligence algorithms, and big data processing capabilities. In the future, in order to continue to support young people preparing for self-reliance and vulnerable youths, we plan to form a fund with Woori Asset Management to create group synergy.

Ko Jung-hyun, CEO of Woori FIS, said, “We will train talented people in future new technologies such as artificial intelligence, big data, and cloud to practice ESG management so that young people can be socially independent without falling behind in the fourth industrial revolution technology.”