Gwangju Bank Expands Productive Finance in Partnership with NICE Credit Information

First Regional Bank to Use ESG Data in Corporate Evaluations
"Proactively Identifying and Supporting High-Growth Local Companies"

On January 21, Gwangju Bank announced that it had signed a Memorandum of Understanding (MOU) with NICE Credit Information at the Gwangju Bank headquarters to expand productive finance based on environmental, social, and governance (ESG) data, with the goal of strengthening the competitiveness of local industries.

Gwangju Bank explained that the purpose of this agreement is to fundamentally enhance the competitiveness of local industries by proactively identifying and supporting local companies that have high growth potential but face difficulties in obtaining financial support due to insufficient collateral.

First, the bank will strengthen financial support for the real local economy and future new industries. For the first time among regional banks, Gwangju Bank will use ESG data in corporate evaluations, establishing a financial support system that comprehensively considers both financial and non-financial factors. In line with the government's climate and environmental policies, the bank will actively reflect the results of green taxonomy conformity certification in credit reviews and expand financial support for eco-friendly and low-carbon companies.

Jilson Jung, President of Gwangju Bank (left), and Jongyun Kim, CEO of NICE Credit Information, are holding the agreement document and posing for a commemorative photo. Gwangju Bank

As a community-based financial institution, Gwangju Bank plans to practice inclusive finance through this agreement by alleviating the financial burden on small and medium-sized enterprises and small business owners, thereby helping to ensure their operational stability. Through these efforts, the bank aims to take the lead not only in improving the structure of local industries but also in building a virtuous economic cycle in which financial support leads to regional growth.

Jilson Jung, President of Gwangju Bank, stated, "At this point in time, it is crucial to introduce productive finance that revitalizes the real economy in order to strengthen the foundation of the local economy," and added, "We will continue to do our utmost to support the resurgence of the local economy as a reliable partner for local residents and businesses."