Shinhan Financial Group Executes 240 Billion KRW Investment in Policy-Type New Deal Fund

[Asia Economy Reporter Kwangho Lee] Shinhan Financial Group announced on the 26th that it has established the policy-type New Deal fund called 'Shinhan Green New Deal Fund' and made its first investment in the 'Bonghwa Omisan Wind Power Project,' an investment business.

The Shinhan Green New Deal Fund is a policy-type New Deal fund in the infrastructure sector created with the goal of investing in the renewable energy field, and Shinhan Asset Management is in charge of its operation.

Shinhan Financial Group companies such as Shinhan Bank and Shinhan Life Insurance each contributed 100 billion KRW, the government contributed 36.9 billion KRW, and domestic insurance companies contributed 105 billion KRW to participate.

As its first investment project, the fund selected the Bonghwa Omisan Wind Power Project, which involves constructing a 60MW wind power plant in Bonghwa, Gyeongbuk.

Shinhan Bank took charge of financial arrangement and successfully completed the financial agreement last month. The project offers local residents an investment opportunity in resident participation bonds worth 6.4 billion KRW, simultaneously enhancing resident acceptance and environmental sustainability.

A Shinhan Financial Group official stated, "We will continue to discover various investment opportunities related to renewable energy and lead the domestic renewable energy market sector."

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