Gibo and Busan City Join Hands to Promote ESG Management for SMEs
Business Agreement to Promote ESG Management for Companies Located in Busan City
[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 25th that it has signed a 'Business Agreement for the Activation of ESG (Environment, Social, Governance) Management for Small and Venture Companies Located in Busan' with Busan Metropolitan City.
This agreement was prepared to establish a mutually organic cooperation system between Kibo and Busan City so that small and medium-sized enterprises in the Busan area, which are experiencing difficulties in environmental conservation and social responsibility, can smoothly introduce ESG management.
According to the agreement, Kibo will recommend excellent companies among ESG-related guaranteed companies in the Busan area to Busan City, and Busan City will certify them as excellent ESG management companies after a separate selection process. For ESG certified companies, Kibo will support innovative growth through expanded technology financing, linked investment, technology transfer and transactions, and Busan City will promote ESG management in the Busan area by recommending regional mother funds and providing consulting support.
Kibo is equipped with capabilities as an ESG support institution, and Busan City continuously pursues policies for fostering small and medium-sized enterprises and revitalizing the local economy, so it is expected that the two organizations will create synergy in the Busan area through this agreement.
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Kim Jong-ho, Chairman of Kibo, said, "This agreement is significant in that Kibo, as a policy financial institution located in Busan, contributes to spreading the ESG management culture in the region together with Busan City," adding, "We will do our best to make this cooperation model a best practice that provides practical help for activating ESG management of small and venture companies located in the region."
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