Shinhan Bank Signs Business Agreement with Korea Technology Finance Corporation to Promote Carbon Neutral Management

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[Asia Economy Reporter Yu Je-hoon] Shinhan Bank announced on the 26th that it has signed a financial support business agreement with the Korea Technology Finance Corporation to support the expansion of carbon-neutral management.

Through this agreement, Shinhan Bank will contribute 1 billion KRW to the Korea Technology Finance Corporation to provide focused support for carbon-neutral transition leading companies with a scale of 100 billion KRW, and plans to support guarantee fees to alleviate the burden on companies.

The main support targets are companies that have achieved or are expected to achieve greenhouse gas reduction, including four types of carbon reduction companies: ▲ renewable energy power generation companies (solar, wind, etc.) ▲ renewable energy-related industrial companies (equipment production, technology development companies, etc.) ▲ self-reduction companies (facility introduction, fuel conversion, etc.) ▲ external reduction companies (producing and selling products, parts, etc.).

Shinhan Bank will support guarantee fees by 0.5 percentage points for supported companies, and the Korea Technology Finance Corporation will reduce guarantee fees by 0.2 to 0.4 percentage points to strengthen financial support for small and medium-sized enterprises lacking credit and collateral.

A Shinhan Bank official said, "We are striving to expand green and transition finance through various support for carbon-neutral management," and added, "We plan to continuously promote financial support in collaboration with various institutions to provide practical help to companies that need funds for greenhouse gas reduction purposes."