NongHyup Bank Invests 100 Billion KRW in 'Kiwoom Green New Deal Infrastructure Fund'

Ji Junseop, Executive Vice President of NH Nonghyup Bank's Agriculture and Green Finance Division (right), and Kim Seonghun, CEO of Kiwoom Investment Asset Management, are posing for a commemorative photo on the 20th at the Kiwoom Investment Asset Management headquarters located in Yeouido, Yeongdeungpo-gu, Seoul, during the signing ceremony of the Kiwoom Green New Deal Infrastructure Fund.

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 20th that it will participate as an anchor investor in the 'Kiwoom Green New Deal Infrastructure Fund,' which invests in the Korean New Deal operated by Kiwoom Asset Management.

The Kiwoom Green New Deal Infrastructure Fund is a blind fund worth approximately 300 billion KRW that invests in domestic social infrastructure such as Green Smart Schools, and Nonghyup Bank has committed to investing 100 billion KRW of this amount.

Through this fund, Nonghyup Bank plans to further expand ESG (Environmental, Social, and Governance) related investments by investing in lease-type private investment projects (BTL) related to the 'Green Smart Future School Comprehensive Plan' and 'Aging Sewage Treatment Plant Modernization,' which require a budget of 18.5 trillion KRW announced by the government last February.

BTL refers to a business model where public facilities are constructed with private funds, ownership is transferred to the government, and the government supports the recovery of investment by paying rent to private operators.

Nonghyup Bank plans to provide approximately 8 trillion KRW in financial support from this year to 2025, including about 5.2 trillion KRW for agriculture and agro-food industries and about 2.8 trillion KRW for Green New Deal-related projects, and participation in this fund is part of this initiative.

Ji Junseop, Vice President of the Agriculture and Green Finance Division, stated, “By participating in the Kiwoom Green New Deal Infrastructure Fund, we will transform aging schools into safe and comfortable learning spaces, gifting children a place that holds the future, and support clean water management systems to actively practice ESG management as Nonghyup Bank.”

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