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 agreement is designed to support technological innovation and the transition to new industries for companies located in industrial complexes, as well as to establish a framework for corporate growth.
Under the MOU, the four organizations will jointly advance the 'K-Industrial Complex New Growth Project' aimed at fostering growth for companies in industrial complexes and revitalizing the local economy.
To facilitate the spread of productive finance in industrial complexes, a 50 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 complex economic organizations through a blind fund approach. This investment method involves raising funds first and then identifying quality investment opportunities for deployment.
In addition to financial support, the initiative will offer consulting on environmental, social, and governance (ESG) management, assistance with obtaining domestic and international certifications, and preferential interest rate benefits. It will also engage in open innovation activities within industrial complexes. Plans are in place to support the attraction of private capital for public-private development projects and to facilitate financial structuring for the redevelopment of industrial complexes.
Kang Seong-mook, Vice Chairman of Hana Financial, stated, "We will continue to shape the future of Korea's industrial complexes through the supply of venture capital and support for innovation."
* This article has been translated by AI.
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