Shinhan Bank and Jungbu Power Sign Agreement to Establish 'Eco Frontier Bank'

Introduction of AI-Based Energy Management System Technology in Headquarters and Office Buildings... Energy Diagnosis Conducted

[Asia Economy Reporter Yoo Je-hoon] Shinhan Bank announced on the 20th that it has signed a "Business Agreement for Establishing an Eco Frontier Bank" with Korea Midland Power to lead sustainable Environmental, Social, and Governance (ESG) management and actively participate in the government's energy efficiency policies.

This business agreement was conducted as part of the Energy Efficiency Innovation Cooperation Vision Proclamation Ceremony hosted by the Ministry of Trade, Industry and Energy on the same day. According to this agreement, the two companies will mutually cooperate for ▲ establishing an Eco Frontier Bank ▲ maintaining a mid- to long-term cooperative relationship for energy efficiency and sharing profits, and other energy efficiency projects.

First, both companies will promote the introduction of an artificial intelligence (AI)-based energy demand management system in their headquarters and office buildings to establish the Eco Frontier Bank, and jointly derive optimal solutions for energy diagnosis and efficiency. They will also mutually cooperate to build a sustainable energy efficiency ecosystem and plan to share the profits from future energy cost savings to achieve energy efficiency innovation projects.

A Shinhan Bank official said, "We consider it very meaningful to participate in the government's energy efficiency policy through this business agreement," adding, "Shinhan Bank will continue to do its best to establish the status of the Eco Frontier Bank."

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