Shinhan Bank Signs Business Agreement with LX Hausys to Promote ESG Management Expansion

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 20th that it has signed a business agreement with LX Hausys, a leader in the eco-friendly and energy-saving interior market, to promote ESG (Environmental, Social, and Governance) management.

This business agreement was established to actively participate in the national efforts to respond to government policies and climate change through support for the Green Remodeling project, one of the ten representative tasks of the Korean New Deal, and to help small and medium-sized enterprises practice ESG management through win-win financial support.

Through this agreement, both companies will jointly promote ▲ support for financial and non-financial services to expand ESG management and win-win cooperation ▲ expansion of the Green Remodeling project utilizing Shinhan Financial Group’s financial products ▲ online and offline marketing to expand the Green Remodeling project ▲ development of remodeling-related financial products.

Specifically, the two companies plan to cooperate to provide various non-financial services such as education and consulting to help practice ESG management, supporting loan interest rate reductions based on win-win deposits and ESG win-win cooperation loans for LX Hausys’ partner companies.

Additionally, through the Green Remodeling secondary guarantee loan and the bank’s own loan products to be launched in the future, they will support the costs of energy efficiency improvement construction for residential and non-residential buildings and jointly conduct marketing of LX Hausys’ eco-friendly and energy-saving products through Shinhan Bank’s online and offline channels.

In particular, LX Hausys, as a market-leading company in the green remodeling field providing eco-friendly products and energy efficiency improvement solutions, is expected to contribute to the expansion of eco-friendly and energy-efficient buildings and the spread of a good consumption culture that purchases low-carbon and recycled raw material products through this business agreement.

Jin Ok-dong, CEO of Shinhan Bank, said, "The business agreement with LX Hausys, a market-leading company in the green remodeling field, will provide greater benefits to customers of both companies and serve as a good opportunity to expand ESG." He added, "We will continue to fulfill the fundamental role of finance to create an ESG ecosystem based on close cooperation with LX Hausys."

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