Kibo and Hana Bank Join Hands to Support ESG Management and Korean New Deal Companies

Establishing a Financial Support Collaboration System for Fostering ESG Management Companies and New Deal Enterprises

Park Sung-ho, CEO of Hana Bank (left), and Jung Yoon-mo, Chairman of Kibo, are posing for a commemorative photo after the signing ceremony.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter Kibo) announced on the 29th that it has signed a 'Memorandum of Understanding on ESG (Environmental, Social, and Governance) Management and Financial Support for Korean New Deal Companies' with Hana Bank (President Park Sung-ho). This agreement was established to facilitate smooth financial support for ESG management companies and Korean New Deal business operators through collaboration between Kibo and Hana Bank.

According to the agreement, Hana Bank will contribute a special fund and guarantee fee support totaling 2.8 billion KRW to Kibo, which will use these resources to provide preferential measures such as ▲increasing the guarantee ratio (from 85% to 100%) ▲guarantee fee support (0.2 percentage points) ▲guarantee fee reduction (down by 0.2 percentage points). Over the next three years, approximately 100 billion KRW worth of guarantees will be supported.

Kibo is actively leading support by establishing various guarantee systems for ESG management companies and Korean New Deal companies, including green guarantees for greenhouse gas reduction companies, safety infrastructure guarantees and happy workplace maintenance guarantees to strengthen social safety nets, and preferential guarantees for regulatory free zones and sandboxes to foster regional key industries.

Chairman Jung Yoon-mo of Kibo stated, "Through this agreement, we expect to strengthen the collaborative system between Kibo and Hana Bank and closely cooperate in advancing ESG management evaluation and financial support systems for small and medium venture companies in the future." He added, "Kibo will continue to actively strive for the expansion of ESG management among small and medium venture companies and the success of the Korean New Deal."