Shinhan Bank Signs Business Agreement with LS Electric to Promote Green New Deal Projects

Business Agreement with LS Electric to Expand Investment and Financial Support for Eco-Friendly Industries
Both Companies to Actively Collaborate for the Successful Implementation of the Green New Deal

At the business agreement ceremony held on the 6th at Shinhan Bank Headquarters located on Sejong-daero, Jung-gu, Seoul, Shinhan Bank President Jin Ok-dong (left) and LS Electric Chairman Koo Ja-kyun pose for a commemorative photo.

[Asia Economy Reporter Kangwook Cho] Shinhan Bank announced on the 8th that it signed a 'Partnership Agreement for the Successful Promotion of the Green New Deal' with LS Electric at its headquarters located in Jung-gu, Seoul, attended by Bank President Jin Ok-dong and LS Electric Chairman Koo Ja-kyun.

Through this agreement, Shinhan Bank will strengthen its strategic partnership with LS Electric and actively cooperate for the successful execution of the Green New Deal, a future growth industry, by providing financial advisory and comprehensive support for various projects aimed at building renewable energy and smart grid infrastructure, including solar power, ESS (Energy Storage System), and fuel cells promoted by LS Electric.

In addition, Shinhan Bank plans to create a business model where large corporations, partner SMEs, and financial institutions can coexist by providing various financial services to support LS Electric’s partner companies related to the Green New Deal.

An LS Electric official stated, "Based on the diverse experience accumulated in the smart energy sector, including renewable energy, we are expanding our scope to distributed energy solutions," adding, "Through mutual sharing of business opportunities with Shinhan Bank, we will become strategic partners that jointly drive the growth of both companies’ businesses."

A Shinhan Bank official said, "Through this agreement, we will establish a K-Green New Deal strategic partnership with LS Electric," and added, "We will take the lead in the successful implementation of the government’s Green New Deal policy by actively participating in building green new deal infrastructure, including investment and financial support for eco-friendly industries."

Meanwhile, Shinhan Bank was the first commercial bank to join the Equator Principles for environmental and social responsibility (ESG) implementation and declared its eco-friendly strategy, Eco Transformation 20·20, to lead the low-carbon financial market and promote eco-friendly management.

This content was produced with the assistance of AI translation services.