On June 11, Hana Financial announced that it has signed a memorandum of understanding (MOU) with the Korea Industrial Complex Corporation, the Korea Industrial Complex Management Association, and the Global Leading Companies Association to promote productive finance in industrial complexes.
The MOU aims to support technological innovation and the transition to new industries for companies located in industrial complexes, as well as to establish a growth support system for these businesses.
Under the agreement, the four organizations will jointly pursue the 'K-Industrial Complex New Growth Project' to foster growth for companies in industrial complexes and stimulate the local economy.
To promote productive finance in industrial complexes, a 500 billion won 'New Growth Fund for Industrial Complexes' will be established. Hana Financial plans to provide tailored growth capital to promising companies within industrial complexes and to reputable member companies of industrial economic organizations through a blind fund approach, which involves raising capital first and then identifying quality investment opportunities.
In addition to financial support, the initiative will offer consulting on environmental, social, and governance (ESG) management, assistance in obtaining domestic and international certifications, preferential interest rates, and participation in open innovation activities within industrial complexes. Plans are also in place to support the attraction of private capital for public-private development projects and to assist in the financial structuring of industrial complex redevelopment.
Hana Financial Vice Chairman Kang Sung-mook stated, "We will continue to shape the future of Korea's industrial complexes through the provision of venture capital and support for innovation."
* This article has been translated by AI.
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