POSCO Construction and Shinhan Bank Sign Agreement to Expand ESG Private Investment Projects

POSCO Engineering & Construction and Shinhan Bank are taking a commemorative photo after signing a strategic business agreement to promote ESG private investment projects. From the left in the photo are Kim Jeong-gi, Chief Financial Officer of POSCO Engineering & Construction; Je Eun-cheol, Head of Management Planning Division at POSCO Engineering & Construction; Jeong Geun-su, Head of GIB Business Group at Shinhan Financial Group; and Lee Jeong-woo, Head of PF Division of GIB Business Group at Shinhan Financial Group.

[Asia Economy Reporter Ryu Tae-min] POSCO Engineering & Construction and Shinhan Bank have joined forces to expand ESG (Environmental, Social, and Governance) private investment projects.

POSCO Engineering & Construction and Shinhan Bank announced on the 7th that they signed a "Strategic Business Agreement for the Activation of ESG Private Investment Projects" on the 6th at Shinhan Financial Investment Building in Yeouido, Seoul.

Through this agreement, both companies will utilize their respective networks to share information on ESG private investment projects such as roads, railways, and environmental facilities, and jointly discover project opportunities. They also plan to actively consider obtaining ESG certification from external organizations for jointly promoted ESG private investment projects, which is expected to contribute to expanding the base of ESG finance within private investment projects.

A POSCO Engineering & Construction official stated, "As ESG management is emerging as a key issue worldwide, we aim to respond swiftly to the construction market environment and ESG finance trends through this business agreement." He added, "We will do our best to lead proactive ESG management activities to practice the corporate citizenship management philosophy."

Meanwhile, POSCO Engineering & Construction has been intensifying its ESG management by establishing an ESG Exploration Team under the Corporate Citizenship Office directly under the president last year. In July 2020, it became the first domestic construction company to issue overseas ESG bonds worth 120 billion KRW, and in March last year, it issued 140 billion KRW worth of won-denominated ESG bonds, playing a leading role in the industry to create an ESG ecosystem.

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