Gibo-NongHyup Bank, Activation of Green Finance Linked to K-Taxonomy

Signing of Business Agreement for Green Taxonomy Compliance Assessment Project

The Korea Technology Finance Corporation (Kibo) announced on the 27th that it has signed a "Business Agreement for the Green Classification System Conformity Assessment Project to Revitalize Green Finance for Small and Medium Enterprises" with NH Nonghyup Bank, and will cooperate in the future on the K-Taxonomy conformity assessment project and the activation of green finance support.

This agreement was established to build a close cooperative system between the two organizations, discover targets for green loan program support linked to the K-Taxonomy assessment, and lead the expansion of green finance for SMEs and carbon neutrality.

According to the agreement, Kibo will conduct the K-Taxonomy conformity assessment and prepare and provide related evaluation reports. Nonghyup Bank plans to activate green finance by applying the green loan program to companies that meet the K-Taxonomy conformity assessment, offering benefits such as loan limit increases and preferential interest rates.

In February, Kibo signed a "Business Agreement to Revitalize Green Finance Support Linked to K-Taxonomy" with seven major banks including KB Kookmin, KEB Hana, NH Nonghyup, Shinhan, Woori, Hana, and Industrial Bank of Korea, and as of the end of October, it has supported guarantees worth 147.1 billion KRW related to this, and is continuously expanding various green finance linked to K-Taxonomy, such as supporting 71.3 billion KRW of green asset securitization guarantees this year.

Kim Jong-ho, Chairman of Kibo, said, “Through this agreement, we have actively discovered low-carbon transition companies and established measures to activate green finance based on K-Taxonomy,” adding, “Going forward, Kibo will expand its professional evaluation capabilities and green finance linkage, and strengthen multifaceted policy support for the carbon-neutral transition of small and medium venture businesses to further solidify the foundation for low-carbon and green growth.”