Hana Financial Group and KAIST Jointly Invest in ESG Future Strategy Research

March 23 Business Agreement Ceremony Held
Hana Financial Supports Basic Research Activation with 10 Billion KRW
Hana Bank Invests 10 Billion KRW to Establish Joint Artificial Photosynthesis Research Institute

KAIST signed an 'ESG Future Strategy Business Agreement' with Hana Financial Group on the 23rd to achieve carbon neutrality by 2050. (From the fifth person on the left) Kim Jung-tae, Chairman of Hana Financial Group; Lee Kwang-hyung, President of KAIST; Choi Sung-yul, CEO of KAIST Holdings Co., Ltd.; Park Sung-ho, President of Hana Bank)

[Asia Economy Reporter Kim Bong-su] Korea Advanced Institute of Science and Technology (KAIST) has received 20 billion KRW in funding from Hana Financial Group to be used for basic science and artificial photosynthesis research.

KAIST and Hana Financial Group signed an "ESG (Environmental, Social, and Governance) Future Strategy Business Agreement" on the 23rd for this purpose. Both institutions have united under the grand goal of achieving carbon neutrality by 2050 and addressing the global challenge of the climate crisis, and plan to collaborate in areas such as ▲solving climate change issues ▲transitioning to a low-carbon energy economy ▲expanding renewable energy.

To this end, Hana Financial Group will provide 10 billion KRW to support various academic activities including basic science and convergence technologies. Additionally, Hana Bank will invest 10 billion KRW in KAIST’s technology holding company, KAIST Holdings Co., Ltd., to establish Artificial Photosynthesis Research Institute Co., Ltd. KAIST will also contribute technology and intellectual property as in-kind investment. "Artificial photosynthesis" is a technology that mimics the photosynthesis principle of plants. It is a research field that captures carbon dioxide from the atmosphere using solar energy as a source and upcycles it into various useful substances, gaining attention as an important alternative to solving greenhouse gas problems.

The Artificial Photosynthesis Research Institute Co., Ltd. aims to develop game-changing technologies for carbon neutrality. It plans to conduct mid- to long-term research integrating technologies related to utilizing and converting solar energy and capturing and storing carbon dioxide to convert it into useful materials.

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