Export-Import Bank Provides 1 Trillion Won Support to GS Energy... Expanding Low-Carbon Energy Infrastructure

Export-Import Bank of Korea and GS Energy Sign Financial Support Agreement for Low-Carbon Energy Projects
Contributing to Government's 2050 Carbon Neutrality Policy Implementation and Energy Security Establishment

Yoon Hee-seong, President of the Export-Import Bank (left in the photo), and Heo Yong-su, CEO of GS Energy, met on the afternoon of the 19th at the bank's Yeouido headquarters to sign a "Financial Support Agreement for Establishing Energy Security and Decarbonization Transition."

[Asia Economy Reporter Song Hwajeong] The Export-Import Bank of Korea will provide a total of 1 trillion KRW in financing to GS Energy to implement carbon neutrality policies and establish an energy self-reliance foundation.

On the 20th, the Export-Import Bank of Korea announced that it signed a "Financial Support Agreement for Establishing Energy Security and Decarbonization Transition" with GS Energy the day before.

This agreement includes ▲ sharing information on low-carbon energy projects ▲ participating in domestic and overseas low-carbon energy projects ▲ building infrastructure for the introduction and supply of low-carbon energy domestically, with the Export-Import Bank supporting a total of 1 trillion KRW in financing by 2025. Through this agreement, the two institutions plan to expand the low-carbon industrial structure base and strengthen the ESG (Environmental, Social, and Governance) capabilities of Korean companies amid the energy paradigm shift and the government's carbon neutrality policy.

GS Energy is currently promoting projects such as blue ammonia production, construction of overseas LNG combined power plants, and overseas LNG import projects. Blue ammonia is an eco-friendly clean ammonia that captures and stores carbon dioxide emitted during production. GS Energy is working with Abu Dhabi National Oil Company, the largest oil company in the Middle East, to jointly produce and import blue ammonia.

Yoon Heeseong, President of the Export-Import Bank, said, "Through this agreement, we expect to greatly contribute to strengthening domestic companies' investment capabilities in low-carbon energy projects and securing national resource competitiveness."

The Export-Import Bank plans to further contribute to the implementation of the government's carbon neutrality policy and the establishment of energy resource security, starting with the agreement with GS Energy.

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