BNK Financial Group Signs First Financial Sector Agreement to Support Carbon Reduction Companies with Busan City and Korea Technology Finance Corporation

All About Financing for Carbon Reduction Technology Companies

Company Discovery, Financial Support, and ESG Education

BNK Financial Group (Chairman Bin Daein) signed a business agreement on the 2nd at Busan City Hall with Busan Metropolitan City and Korea Technology Finance Corporation (Kibo) to become the first in the financial sector to fully support financial costs for carbon reduction technology companies.

The signing ceremony was attended by Bin Daein, Chairman of BNK Financial Group, Park Hyungjun, Mayor of Busan, and Kim Jongho, Chairman of Korea Technology Finance Corporation, among others.

This agreement was established to discover and support climate tech SMEs in Busan with carbon reduction technologies, revitalize the local economy, and lead the way in carbon neutrality.

According to the agreement: ▲ Busan Bank and Kyongnam Bank, subsidiaries of BNK Financial Group, will launch exclusive low-interest loan products for two years and fully support customer guarantee fees; ▲ Busan Metropolitan City will fully support interest costs for two years; ▲ Korea Technology Finance Corporation will provide support for technology evaluation fees, guarantee fees, and offer ESG management consulting.

The target companies are Busan-based SMEs classified as external reduction companies under Kibo's carbon value assessment guarantee for carbon reduction. Each company can receive support of up to 500 million KRW.

After the Busan City project announcement on July 22, companies may apply for guarantees with Korea Technology Finance Corporation starting in August, followed by loan applications at Busan Bank and Kyongnam Bank.

Bin Daein, Chairman of BNK Financial Group, stated, "I hope this agreement will serve as a catalyst for SMEs in Busan to actively develop carbon reduction technologies," and added, "As the leading financial group in the region, BNK Financial Group will actively support Busan in becoming a 'low-carbon green city leading with eco-friendly technology.'"

On the 19th, BNK Financial Group will offer a free 'Southeast Region SME ESG Talent Development Course' for 150 SME executives and employees at the 12th floor International Conference Hall of Busan City Hall, providing education on supply chain due diligence laws and the Carbon Border Adjustment Mechanism.

BNK Financial Group is signing a business agreement with Busan City and the Korea Technology Finance Corporation to support carbon reduction technology companies, the first of its kind in the financial sector.