Ssangyong C&E Signs ESG Mutual Growth Financial Support Agreement with Shinhan Bank... Support for Partner Companies

Participants posed after the signing ceremony of the ESG win-win financial support business agreement between Ssangyong C&E and Shinhan Bank. From the fourth person on the left, Shinhan Bank Vice President Jiho Jeong, Ssangyong C&E CFO Executive Director Duman Kim. Photo by Ssangyong C&E

[Asia Economy Reporter Kim Jong-hwa] Ssangyong C&E signed an 'ESG Win-Win Financial Support Business Agreement' with Shinhan Bank at its headquarters in Jung-gu, Seoul on the 26th to support the practice and early settlement of ESG management for partner companies.

This business agreement aims to promote a virtuous cycle of ESG management by supporting win-win activities between financial institutions and small and medium-sized enterprises (SMEs) targeting Ssangyong C&E's partner companies.

Through this agreement, Ssangyong C&E plans to actively promote ESG management activities for 'win-win with SMEs,' a core aspect of ESG management. Shinhan Bank will provide financial preferential benefits such as working capital and facility funds, and interest support to partner companies of ESG management excellent companies.

A Ssangyong C&E official said, "Efforts for win-win and co-growth with partner companies are part of the ESG activities that have been continuously promoted so far, and this agreement is expected to be an opportunity for the positive influence of ESG management to expand throughout the industry."

Since announcing the ESG management vision 'Green 2030,' which aims to reduce carbon emissions, along with its name change in March, Ssangyong C&E has been leading the cement industry in practicing ESG management.