H2KOREA Partners with Shinhan Bank to Expand Hydrogen Industry

[Asia Economy Reporter Ki-min Lee] Hydrogen Convergence Alliance (H2KOREA) announced on the 10th that it signed a "Partnership Agreement (MOU) for the Successful Promotion of the Green New Deal" with Shinhan Bank to expand the hydrogen industry.

This MOU was prepared to expand the related market of the hydrogen industry, a core element, and to encourage corporate participation amid the government's promotion of the Green New Deal policy for carbon neutrality.

Following the enforcement of the Hydrogen Act in February this year, H2KOREA, as the dedicated agency for hydrogen industry promotion, established the 'Hydrogen Innovation Desk' in March to more closely support the fostering of hydrogen-specialized companies and is implementing a certification system for specialized companies. In addition, it supports domestic hydrogen production and supply through regulatory improvements and system development for the entire hydrogen industry cycle, as well as subsidy projects for the construction of small, medium, and large-scale hydrogen production bases and hydrogen shipment centers.

Shinhan Bank recently declared ESG (Environmental, Social, and Governance) management, the first among commercial banks, to fulfill carbon neutrality and joined the Equator Principles to implement it. The bank also announced its eco-friendly strategy, Eco-Transformation 20·20, and is promoting leadership in the low-carbon financial market and the spread of eco-friendly management.

The two organizations decided to strengthen their strategic partnership by pooling their capabilities to expand the hydrogen industry under the Green New Deal for carbon neutrality implementation.

H2KOREA will actively cooperate to successfully carry out the Green New Deal, a future growth industry, by focusing on fostering hydrogen-specialized companies, building hydrogen production and supply infrastructure, and discovering sustainable business models to revitalize hydrogen energy distribution.

Shinhan Bank also stated that it will cooperate by providing financial support according to growth stages and services such as tax, accounting, human resources, and legal consulting to foster hydrogen-specialized companies certified by H2KOREA related to the Green New Deal.

Kim Seong-bok, Director of H2KOREA, emphasized, "As the government's carbon neutrality declaration highlights the importance of the hydrogen economy, this MOU has significant meaning as it serves as a catalyst to activate financial support in the domestic hydrogen industry market. By sharing mutual business opportunities with Shinhan Bank, we will grow into a partnership that jointly drives the business growth of both companies."

Jung Ji-ho, Group Head of Shinhan Bank, said, "Through this agreement, we will build a K-Green New Deal strategic partnership with H2KOREA. We will actively participate in building Green New Deal infrastructure, including investment and financial support for eco-friendly industries, and take the lead in the successful implementation of the Green New Deal policy promoted by the government."

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