Shinhan Bank Selected as Preferred Negotiation Partner for Busan Eco Delta Smart City
Shinhan Bank Selected as Preferred Negotiator for 'The In (人) Consortium' as Lead Manager
The Only Financial Institution Participating in Both Smart City National Pilot Cities Sejong and Busan
[Asia Economy Reporter Yu Je-hoon] Shinhan Bank, as the lead manager, participated in the 'The In (人) Consortium,' which has been selected as the preferred negotiation candidate for the Busan Smart City National Pilot City project.
According to Shinhan Bank on the 19th, the Korea Water Resources Corporation finalized the selection of The In Consortium as the preferred private sector operator for the special purpose company (SPC) that will develop and operate the Busan Eco Delta Smart City (EDC) National Pilot City.
The Busan Eco Delta Smart City (EDC) SPC is composed of public sector entities including Busan City, Busan Urban Corporation, and Korea Water Resources Corporation, along with the private sector operator The In Consortium. They plan to finalize specific details regarding the SPC's operation and aim to launch it within the year.
The In Consortium, led by Shinhan Bank as the lead manager and LG CNS as the representative company, includes top domestic companies in various fields such as Hyundai Engineering & Construction, Hanyang, and SK Ecoplant. They will implement smart innovative services across diverse sectors including transportation, lifestyle, robotics, healthcare, and energy, and plan to build and operate these services for over 15 years. Among them, Shinhan Bank will act as a financial investor and provide 12 future-oriented financial services integrating finance across all business areas, establishing a smart city financial hub.
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A Shinhan Bank official stated, "As the only financial institution participating in both the national pilot smart cities of Sejong and Busan, we will play the role of a financial investor and actively lead the project by planning various future financial services that enhance the convenience of Busan smart city citizens and contribute to regional community development."
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