KRW 10 Million Support for Each of 25 ESG Startups and Ventures... KHNP and BAND Launch Contest Program

Korea Hydro & Nuclear Power (President: Hwang Juho) is partnering with the BAND Foundation (Chairperson: Ha Jungeun) to support promising startups and venture companies across the country.

From June 26 to September 13, KHNP will hold an open call for the "2024 Korea Hydro & Nuclear Power Startup and Venture Company Growth Support Project." Out of startups and venture companies nationwide that have established an ESG management foundation and show growth potential, 25 will be selected to receive direct funding of 10 million KRW each, totaling 250 million KRW. In addition, five outstanding companies will receive support such as IR consulting to enhance their investment attraction capabilities until February next year.

Korea Hydro & Nuclear Power Headquarters Building Exterior

Marking its fifth year, this program has provided a total of 750 million KRW in support to 53 social economy, startup, and venture companies over the past four years, except for 2019 to 2021.

In line with the ESG management trend, the program recruits companies in fields such as revitalizing the local economy, solving regional issues, supporting the social advancement of vulnerable groups, and ESG practices. The selection process consists of three rounds of rigorous and transparent screening.

The support funds from KHNP can be used not only for facility capital such as equipment and machinery purchases, but also for R&D, promotional expenses, and personnel expenses for job creation to ensure sustainable growth.

After document screening, on-site inspections, and final face-to-face evaluations, the final 25 companies will be selected, and in October, the orientation and fund delivery will take place. The project will continue until February next year, including interim and final performance sharing sessions.