Hana Financial Group Raises K-New Deal and Innovative Finance Support Target from 60 Trillion to 83 Trillion Won

[Asia Economy Reporter Kiho Sung] Hana Financial Group (Chairman Kim Jung-tae) announced on the 21st that it exceeded its 2020 K-New Deal and innovative finance goals, and based on this success, it will expand the total supply target for K-New Deal and innovative finance from the original 60 trillion won to 83 trillion won, an increase of 23 trillion won, by 2025.

First, Hana Financial Group executed loans and investments worth 26 trillion won last year in the K-New Deal and innovative finance sectors, achieving 212% of the annual supply target of 12 trillion won. The cumulative support amount for K-New Deal and innovative finance over the past two years reached 44 trillion won.

Specifically, last year the K-New Deal achieved 108% of its target (loan and investment target 1.5 trillion won, actual 1.6 trillion won), and innovative finance achieved 227% (loan and investment target 10.5 trillion won; including technology finance 17.2 trillion won and movable property/IP collateral loans 300 billion won, totaling 24 trillion won). Both sectors exceeded their financial support targets with broad financial backing.

The increased target of 83 trillion won for K-New Deal and innovative finance support will be promoted around three pillars: ‘customized financial support’ targeting the Digital New Deal and Green New Deal, ‘leading technological innovation’ supporting innovative startups and future talent discovery and development, and ‘digital talent cultivation’.

To support the Digital New Deal, Hana Financial Group plans to invest 100 billion won and establish the tentatively named ‘Hana New Deal National Representative Growth Fund,’ managed by Korea Growth Investment Corporation, in the first half of this year. This fund will invest in venture capital supporting innovative companies and startups, providing customized financial support for the success of the K-New Deal.

Active support will also be provided for the Green New Deal linked to ESG (Environmental, Social, and Governance) management. To contribute to carbon neutrality and growth in the renewable energy sector, funds will be concentrated on three core areas: ▲solar power ▲offshore wind power ▲hydrogen fuel cells. Simultaneously, by promoting citizen fund-type renewable energy projects, the group plans to share outcomes with local residents and practice regional win-win finance involving local companies and all participants.

Furthermore, Hana Financial Group plans to lead technological innovation through direct investment and continuous incubation of ABCD (▲AI ▲Blockchain ▲Cloud ▲Data) innovative companies. It will also support startups through ‘OneQ Agile Lab’ and hold ‘Early Startup Competitions,’ conducting diverse startup investments and nurturing activities.

For digital talent cultivation, efforts will be made to strengthen digital education targeting youth and digitally marginalized groups. At the same time, through industry-academic cooperation with KAIST, POSTECH, Korea Polytechnic University, and others, the group will take the lead in revitalizing the tech-fin ecosystem linking universities and companies.

Kim Jung-tae, Chairman of Hana Financial Group, stated, “We will exert the group’s full capabilities to support the K-New Deal and innovative finance to transform the paradigm of the Korean economy and overcome COVID-19,” adding, “We will fulfill the social responsibility of finance so that Korea can take a leading position amid the global landscape changes in the post-COVID era.”

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