Shinhan Bank and Ministry of Trade, Industry and Energy Sign Agreement for Digital Transformation Scale-up Financial Support

Establishing a Financial Support Collaboration Environment for Digital-Based Industrial Innovation Growth
Shinhan Bank Signs Comprehensive Financial Support Agreement for Digital Transformation Companies

At the financial support agreement ceremony for industrial digital transformation held on the 28th at Dragon City Hotel in Yongsan-gu, Seoul, Shinhan Bank CEO Jin Ok-dong, Minister of Trade, Industry and Energy Sung Yun-mo, Korea Credit Guarantee Fund Director Kim Chang-hyun, and Korea Industrial Intelligence Association Chairman Kim Tae-hwan (from right in the photo) are posing for a commemorative photo.

[Asia Economy Reporter Kangwook Cho] Shinhan Bank announced on the 28th that it signed the 'Industrial Digital Transformation Scale-up Financial Support Business Agreement' together with the Ministry of Trade, Industry and Energy, Korea Credit Guarantee Fund, and Korea Industrial Intelligence Association at the 'Industrial Digital Transformation Solidarity Formation Ceremony' held at Dragon City Hotel in Yongsan-gu, Seoul.

This agreement was established to create a financial support cooperation system among Shinhan Bank, the Ministry of Trade, Industry and Energy, Korea Credit Guarantee Fund, and Korea Industrial Intelligence Association to jointly promote the digital transformation across the industry by the government and private sector and foster related companies for digital-based industrial innovation growth.

Shinhan Bank plans to provide a comprehensive financial support program including customized financial products tailored to each business promotion stage from research and development (R&D) to commercialization for companies equipped with digital technology capabilities and aiming to create new businesses and services by utilizing industrial data to achieve K-New Deal outcomes.

Jin Ok-dong, President of Shinhan Bank, said, "Through this agreement, an industrial digital ecosystem has been established that innovates the industrial value chain and adds high value by integrating digital innovative technologies such as artificial intelligence (AI), industrial big data, and cloud into traditional industries including automobile, electronics, shipbuilding, and materials and components," adding, "We will fulfill our role as a financial institution to discover and foster companies undergoing industrial digital transformation."