GS Construction Secures 94 Billion KRW Green Loan in Europe... First Domestic Construction Company to Do So

At the contract signing ceremony held on the 16th at State Tower Namsan in Jung-gu, Seoul, Philip Noir, BNP Paribas Bank Korea Representative (left), and Kim Tae-jin, Vice President of the Finance Division at GS Construction (right), are posing for a commemorative photo. (Provided by GS Construction)

[Asia Economy Reporter Kim Hyemin] GS Construction has successfully raised a green loan worth 70.2 million euros (approximately 94 billion KRW) in Europe.

A green loan is a loan provided by European financial institutions exclusively for eco-friendly business investments, and it can only be raised after being certified as an eco-friendly project by a third-party certification body. This is the first time a domestic construction company has secured a green loan.

On the 16th, GS Construction announced that it signed a green loan agreement with BNP Paribas Bank at State Tower Namsan in Jung-gu for investment in an eco-friendly logistics center in Poland. The signing ceremony was attended by Kim Taejin, Vice President (CFO) of GS Construction's Finance Headquarters, and Philippe Noirault, BNP Paribas Bank's Korea Representative.

The green loan raised this time follows the global certification body 'BREEAM' awarding GS Construction's two out of four logistics centers in Wroclaw, Poland, the eco-friendly certification 'Excellent grade.' The remaining two logistics centers are awaiting grade evaluation.

The project GS Construction is promoting involves developing a logistics center with a total floor area of approximately 185,000㎡ about 13 km southwest of Wroclaw in Poland, for leasing and sale. Construction began in May and is scheduled to be completed in 2023.

Vice President Kim Taejin said, "Raising a green loan in Europe has become an opportunity to be recognized as an eco-friendly construction company overseas," adding, "As interest in ESG (Environmental, Social, and Governance) related projects is increasing not only domestically but also in the international financial market, it is expected to have a positive impact on future projects."

Meanwhile, GS Construction has earned an integrated grade of 'A (Excellent)' for two consecutive years in the '2021 Listed Companies ESG Evaluation' announced by the Korea Corporate Governance Service (KCGS) this year.

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