Shinhan Bank and Asset Management Expand Global Renewable Energy Collaboration with Hyosung Heavy Industries

Shinhan Bank announced on May 11 that it has signed a business agreement at TP Tower in Yeouido, Seoul, with Shinhan Asset Management and Hyosung Heavy Industries to strengthen competitiveness in the global energy infrastructure business.

At the productive finance business agreement ceremony held on the 8th at TP Tower in Yeouido, Seoul, for the expansion of power infrastructure and eco-friendly energy projects, (from left) Hosik Jang, Group Head of Shinhan Bank CIB Group, Taehee Woo, CEO of Hyosung Heavy Industries, and Seokwon Lee, CEO of Shinhan Asset Management, are taking a commemorative photo. Provided by Shinhan Bank

This agreement was established to expand the scope of collaboration in the global renewable energy market, based on the performance of the "Shinhan-Hyosung Global Greenway Fund." The three companies plan to further strengthen cooperation in the overseas energy infrastructure sector, leveraging the joint investment experience and trust built through their existing corporate partnership fund.

In particular, Shinhan Bank has decided to provide a package of specialized financial solutions—including overseas project financing arrangement, foreign currency payment guarantees, and derivatives—for Hyosung Heavy Industries' overseas renewable energy and battery energy storage system (BESS) projects.

A Shinhan Bank official stated, "This agreement is significant in that it creates new business opportunities in the global eco-friendly energy market through close collaboration between industry and finance," adding, "We will continue to fulfill our role in productive finance to ensure the stable growth of Hyosung Heavy Industries' global eco-friendly business and enhance the competitiveness of K-finance."

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