NongHyup Bank and Kibo Sign MOU on 'ESG Management and Financial Support for Korean New Deal Companies'

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 12th that it has signed a 'Business Agreement on ESG (Environment, Social, Governance) Management and Korean New Deal Corporate Financial Support' with the Korea Technology Finance Corporation.

This agreement was established for Nonghyup Bank and the Korea Technology Finance Corporation to collaborate and actively support eco-friendly management companies, digital New Deal companies, and regional balanced New Deal companies.

Nonghyup Bank will contribute a special fund of 3 billion KRW and 2 billion KRW in guarantee fee support to the Korea Technology Finance Corporation, which will be used as resources to provide guarantee loans totaling 393.3 billion KRW to target companies by increasing the guarantee ratio (85% → 100%), reducing guarantee fees by the Korea Technology Finance Corporation (0.2 percentage points, up to 3 years), and supporting guarantee fees (0.2 percentage points, up to 3 years).

President Junhak Kwon said, "Through this business agreement, financial support for ESG management and Korean New Deal companies has expanded and financial costs have decreased," adding, "Going forward, Nonghyup Bank will continue to be a leading ESG bank and a partner that supports small and medium enterprises in times of difficulty."

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