Saneun, Korea's First Industrial Complex Eco-Friendly Fuel Transition Support

Utilizing KDB Carbon Spread Products... Providing Interest Rate Benefits Based on Reduction Effect Evaluation

[Asia Economy Reporter Park Sun-mi] On the 24th, the Korea Development Bank (KDB) announced that it will support the country's first eco-friendly fuel conversion project for industrial complex district energy using the KDB Carbon Spread Program (carbon reduction product) launched last April.

The target facility is a gas combined cycle cogeneration power plant promoted by Hanju, the district energy supplier for the Ulsan Petrochemical Industrial Complex. To encourage the industry's efforts to reduce greenhouse gases, KDB provided a 1 percentage point interest rate discount using the KDB Carbon Spread Program launched last April. This investment is expected to reduce up to 413,000 tons of greenhouse gases annually, equivalent to planting 82 million pine trees.

The KDB Carbon Spread Program is the first product among domestic financial institutions to mandate an evaluation process by an external expert organization on the greenhouse gas reduction effect, linking it to interest rate benefits. Lloyd's Register, a greenhouse gas emission verification agency designated by the Ministry of Environment, conducted the evaluation to enhance the reliability of the reduction effect estimates.

An official from KDB stated, "Since the launch of the KDB Carbon Spread Program, we have supported a total of 227 billion KRW to five companies including Hanju over about three months," and added, "In addition to eco-friendly fuel conversion, the carbon reduction product offers interest rate discounts for a wide range of facility investments expected to reduce greenhouse gases, such as waste heat recovery and utilization, process improvement, and introduction of high-efficiency equipment. We ask for your interest and active use."

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